A plant is purchased for Rs. 1,80,000 on 1st January, 1998. It is estimated that the resident value of this plant at the end of its working life of 10 years will be Rs. 61,220. Depreciation is to be provided at 10% p.a. on diminishing balance method. Prepare plant account for 4 years, assuming that the books are closed on 31st December every year.
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balance of plant account on 31st december 2000- rs 1,18,098
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