Question - 20 

In a business a machinery account showed a balance of Rs. 70,000 on 1st January, 1994 on 1st July, 1994 Additional macinery was purchased for Rs. 12,000 and a part of machinery was sold for Rs. 8,000 which had a cost price of Rs. 20,000 on 1st January, 1992 prepare macinery account after providing depreciation at 10% per annum on diminishing balance method.