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

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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.

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