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Shipra Limited invited applications for 80,000 shares of Rs. 10 each payable as follows : {:("Rs. 2.50 on Application","(on 2st May, 2015),"),("Rs. 2.50 on Allotment","(on 1st June, 2015),"),("Rs. 2 on First Call","(on 1st Nov., 2015), and"),("Rs. 3 on Second Call","(on 1st Feb., 2016)"):} All the shares were applied and allotted. Shankar, holding 600 shares paid the whole of the amount alongwith allotment. Pass Cash Book and Journal entries assuming that books are closed on 31 st March every year.

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Statements: All books are interesting All magazines are books Some interesting that are not books are journals Conclusions: I. All books are journals II. All magazines are interesting.

Semeer & Bros. purchased a machinery for Rs 80,000 on 1st July, 2015 and decided to depreciate it "@ "10% annually on the Diminishing Balance Method. On 1st October, 2017, a part of the machinery valued in the books of firm at Rs 16,000 on 1st July, 2015 was sold for Rs 10,000. Show Machinery Account in the books of the firm for the years ended 31st March, 2016, 2017 and 2018.