On XXXXXXXXXXbalance of machinery account was ? 97,200 .On XXXXXXXXXXa new machinery was purchased for ? 48,000 . Installation cost ? 2,000 .On XXXXXXXXXXmachinery sold for ? 12,000 ( original cost...

On 1.1.2016 balance of machinery account was ? 97,200 .On 1.7.2016 a new machinery was purchased for ? 48,000 . Installation cost ? 2,000 .On 30.9.2016 machinery sold for ? 12,000 ( original cost being ? 10,000 on 1.1.2014 ) . Machinery is depreciated @ 10 % per anum under the diminishing balance method