Open a ‘T’ shape account for machinery and put the following transactions on the proper side:
| (i) |
Machinery purchased |
Rs.40,000 |
| (ii) |
Machinery Sold |
Rs.10,000 |
| (iii) |
Machinery purchased |
Rs.8000 |
| (iv) |
Machinery discarded |
Rs.14,000 |
| (v) |
Depreciation on Machinery |
Rs. 1,000 |
