On 1 st July, 2022, Maritime Limited purchased second hand machine for 1,20,000 and reconditioned the same by spending - 18,000. On 1 st January,…

Machinery Account Date ₹ Amount ₹ Date ₹ Amount ₹ 1-7-22 To Bank A/c 1,20,000 31-3-23 By Depreciation A/c 18,225 1-7-22 To Bank A/c – reconditioning charges 18,000 31-3-23 By Balance c/d 1,91,775 1-1-23 To Bank A/c 72,000 2,10,000 2,10,000 1-4-23 To Balance b/d 1,91,775 31-3-24 By Depreciation (₹ 20,700+10,800) 31,500 31-3-24 By Balance c/d 1,60,275 1,91,775 1,91,775 1-4-24 To Bal. b/d 1,60,275 30-6-24 By Depreciation on machinery sold (WN - 1) 2,700 30-6-24 To Bank 90,000 30-6-24 By Bank A/c (WN - 1) 48,000 30-6-24 By Profit and Loss A/c (WN - 1) 7,800 31-3-25 By Depreciation on remaining machinery (WN - 1) 30,825 31-3-25 By Bal c/d 1,60,950 2,50,275 2,50,275 Working Note: 1. Book Value of Machines Machinery Purchased on 1 st July, 2022 Machine purchased on 1 st Jan, 2023 for 72,000) Machinery Purchased on 30 th June, 2024 Total Cost of machine purchased 1,38,000 72,000 2,10,000 Depreciation for2022-23 (15, 525) (2, 700) (18, 225) Written down value as on 31-3-2023 1,22,475 69,300 1,91,775 Depreciation for2023-24 (20, 700) (10, 800) (31, 500) Written down value as on 31-3-2024 1,01,775 58,500 90,000 2,50,275 Depreciation for2024-25 (3 months only for Machine II) (20, 700) (2, 700) (10, 125) (33, 525) Written down value as on 30-6-2024 55,800 Less: Sale Proceeds (48, 000) (48, 000) Loss on Sale 7,800 (7, 800) Written down value as on 31-3-2025 81,075 79,875 160,950