A Plant was purchased on 1st July ,2010 at a cost of Rs.3,00,000 and Rs....
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Accounting
A Plant was purchased on 1st July ,2010 at a cost of Rs.3,00,000 and Rs. 50,000 were spent on its installation. The depreciation is written off at 15% p.a on the straight line Method. The plant was sold for RS. 1, 50,000 on October 01, 2012. The accounts are closed on December 31st every year . Prepare following accounts (a) Plant Account. (b) Depreciation Account. (c) Plant Disposal Account. (d) Provision for Depreciation Account.
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