Question - 30

The value of an asset on 1st January 1998 was Rs. 32,000 and its estimated life was 8 years purchased and sales were made up to 31st Dec. 2000 is as under:
Purchases : 31 March 1998 Rs. 15,000 estimated life 10 years, 30th september 1999 Rs. 12,000 and estimated life 6 years, 30th April 2000 Rs. 20,000 and estimated life was 8 years. 
Sales : From the first machinery a machinery costing Rs. 5,000 on 1st January 1998 sold for Rs. 4,700 jon 30th June 2000 the scarp value of the particular asset is 10% of its cost.
Show the machinery account for the first three years.