Question - 12
A company is making its acounts according to calender year. they purchased a machine for Rs. 30,000 on 1st April, 1998 Later they purchased some more machines on 1st October, 1998 for Rs. 20,000 and on 1st July, 1999 for Rs. 10,000 on 1st January, 2000, 1/3 part of the machinery purchased on 1st April, 1998 became obsolete and sold it for Rs. 3,000 show teh machinery account by charging depreciation @ 10% yearly under original cost method in the books of the company what would be balance amount on 01-01-2000 in the machinery account?