(a) The following are the details of machineries held by a firm: MachinePurchase DatePurchase Value (₹)Useful LifeScrap Value (₹) M101/04/202011,00,0008 years20,000 M201/04/20229,40,0008 years40,000 M301/04/20248,10,0005 years-- The firm uses 'sum of years digits' method for charging depreciation and maintains a separate account for it. On 1st April, 2024, the M1 machine has become obsolete and has been sold for ₹1,34,000/-. On the same date the estimated useful remaining life of M2 machine is reassessed at 3 years with ₹ 10,000 as scrap value. You are required to prepare the Machinery Account, Provision for Depreciation Account and Machinery Disposal Account for the year ending 31st March, 2024 and 31st March, 2025.

(b) Pass the Journal entries to record/rectify the following transactions in the books of Mr. Dutt. Suspense account may be used, if required: (i) Sale of goods to Mahesh at the list price of ₹ 1,80,000/- less 10% trade discount. Out of the amount due 50% is received, out of which two-third is received by cheque and the balance amount is received in cash. CGST and SGST applicable is 6% each. (ii) One of the debtors, Mr. X has agreed to pay his dues of ₹ 3,000/- to Mr. C who is a creditor of Mr. Dutt with the same amount being due to him. (iii) Employees have been given inventory having selling price of ₹ 1,00,000 (Cost price 75,000) on the eve of Deepawali as a gift. CGST and SGST applicable is 6% each. (iv) Sale of ₹2,500/- made to Mr. Kamal Kumar has been debited to Mrs. Kamla Rani. (v) A second hand machinery was purchased and its overhauling charges paid are ₹15,000/-. The accountant debited the overhaul charges to Repairs and Maintenance Account. Depreciation on machinery has been charged at 10%. (vi) A purchase of ₹ 151 from Mr. X was entered in Purchase Day Book as 15 and posted to Mr. X account as ₹51. (vii) R has been issued a credit note allowing rebate of ₹ 6,000/- as goods supplied to him was found defective. CGST and SGST charged @ 6% each. (viii)S was also given a credit note of ₹2,000/- for making prompt payment for outstanding against goods sold to him. CGST and SGST charged on sale was @ 6%. (ix) An accrual of telephone charges for 2,538 has been completely omitted. (x) A cheque of ₹25,390 issued to Mr. C. Dass (shown under trade payables) towards his dues has been wrongly debited to the purchases.