LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1st October, 2022 part of machinery purchased on 1st April, 2020 for 80,000 was sold for ₹ 45,000. 117/354 Also, a new machinery at a cost of ₹1,50,000 was purchased on 1st October, 2022 and installed on the same date and installation charges being 8,000. Cr. ulars Amount The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1st April, 2020 and adjusted the difference on 31st March, 2023. The rate of depreciation remains the same. On A/c 11,250 1,55,000 58,750 n A/c Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23

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Hii, I am in class 11th how can I prepare efficiently for ca foundation may'27 attempt