Vaishnavi and Company purchased machinery for Rs.40,000 on October 01, 2013. New machinery was purchased on April 01, 2015 for 20,000. Depreciation is charged at 10% p.a. under Fixed Installation Method on March 31 every year.
Show necessary journal entries and necessary ledger account for the years 2013-2014, 2014-2015 and 2015-2016 when Provision for Depreciation account is maintained.