Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. android ltd. purchased on 01/01/2019 a plant for r

Android Ltd. purchased on 01/01/2019 a plant for Rs.58,000 and spent Rs.4,000 for carriage and...

70.2K

Verified Solution

Question

Accounting

Android Ltd. purchased on 01/01/2019 a plant for Rs.58,000 and spent Rs.4,000 for carriage and brokerage. On 01/04/2020 it purchased additional plant costing Rs.40,000. On 01/08/2021 the plant purchased on 01/01/2019 was sold for Rs.35,000 and on the same date a new plant was purchased for 38,000. Depreciation is provided at 10% per annum on diminishing balance method every year. Accounts are closed on 31st December every year. Prepare depreciation schedule for 3 years showing separately profit or loss on sale of plant.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You’ve collected the following information about Erna, Inc.: Sales = $ 300,000 Net income = $ 18,100 Dividends = $ 6,900 Total debt = $ 64,000 Total equity = $ 95,000 What is the sustainable growth...

Finance
Q

The structure of chromatin at the centromeres is passed on to daughter cells through epigenetic inheritance,...

Biology
Q

Aqueous hydrochloric acid (HCl) reacts with solid sodium hydroxide (NaOH) to produce aqueous sodium chloride (NaCl)...

Chemistry
Q

Halcyon Lines is considering the purchase of a new bulk carrier for $8.7 million. The forecasted...

Finance
Q

Select the statement s that correctly describe s chemic Chemiosmosis creates a concentration gradient and...

Biology
Q

This graph shows a proportional relationship between the distance traveled by Tim on a road...

Calculus
Q

Mackenzie borrowed 500 on a 3 9 discounted loan for a period of 20 months...

Algebra
Q

help [The following information applies to the questions displayed below.] Oslo Company prepared the...

Accounting
Q

5. (6 points) Calculate the following time value of money problems. a. What is the...

Accounting
Q

GIVE ME THE ANSWER AND TELL ME WHY 5. On March 1, 20D, Maddux...

Accounting
Q

Why Net Present Value (NPV) is better than Accounting Rate of Return (ARR) and Payback...

Accounting
Q

Joe borrowed $12597 to buy a car. If interest was charged on the loan at...

Finance