Question

a transport company purchases 5 trucks at rs120000 each on 1 jul 2014. the company writes off depreciation @20% per annum on original cost and no depreciation was charged on the asset in the year of sale. it observes calendar year as its accounting year.
on the June 30,2018 one of the trucks is involved in an accident and is completely destroyed. Insurance company accepted claim rs54000 in full settlement. on the same day the company purchases a use truck for rs60000 and spends rs12000 on its overhauling. prepare truck account for the three years ending on 31 December,2018.

Answer 1

Answer:

$200

Explanation:

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