A limited company purchased on 01-01-2017 a plant for ₹ 38,000 and spent ₹ 2,000 for carriage and brokerage. On 01-04-2018 it purchased additional plant costing ₹ 20,000. On 01-08-2019 the plant purchased on 01-01-2017 was sold for ₹ 25,000. On the same date, the plant purchased on 01-04-2018 was sold at a profit of ₹ 2,800. Depreciation is provided 10% per annum on diminishing balance method every year. Accounts are closed on 31st December every year. Show the plant A/c for 3 years.

A limited company purchased on 01-01-2017 a plant for ₹ 38,000 and s

1.	A limited company purchased on 01-01-2017 a plant for ₹ 38,000 and spent ₹ 2,000 for carriage and brokerage. On 01-04-2018 it purchased additional plant costing ₹ 20,000. On 01-08-2019 the plant purchased on 01-01-2017 was sold for ₹ 25,000. On the same date, the plant purchased on 01-04-2018 was sold at a profit of ₹ 2,800. Depreciation is provided 10% per annum on diminishing balance method every year. Accounts are closed on 31st December every year. Show the plant A/c for 3 years.
Answer» A limited company purchased on 01-01-2017 a plant for ₹ 38,000 and spent ₹ 2,000 for carriage and brokerage. On 01-04-2018 it purchased additional plant costing ₹ 20,000. On 01-08-2019 the plant purchased on 01-01-2017 was sold for ₹ 25,000. On the same date, the plant purchased on 01-04-2018 was sold at a profit of ₹ 2,800. Depreciation is provided 10% per annum on diminishing balance method every year. Accounts are closed on 31st December every year. Show the plant A/c for 3 years.