A company purchased a second hand plant for Rs.30,000.It immediately spent on it Rs.5,000.The plant was put to use on 1-1-90.After having used it for six years,it was sold for Rs.15,000.Your are required to prepare the plant A/c for 6 years, providing depreciation at 10% on original cost. explain sum
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28
Answer:
As per question
Cost of Plant = Rs 50,000
Useful life = 10 years
Residual value = Rs 5000
Depreciation = Cost-Residual value/Estimated useful life
=50,000-5,000/10
=45000/10
=4500
Also,
rate of depreciation = Annual depreciation/cost of plant x 100
= 4500/50,000 x 100
= 9%
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Answer:
what is the answer
Explanation:
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