Question

Arvind & co purchased a plant worth rs. 200000 on1 jan1987.on June 30 an additional plant was brought for rs 50000.on 31Dec 1988 a part of the plant brought on 1jan 1987 costing rs 4000 was sold rs 3000. Prepare plant and machinery account for year 1987and 1988 providing depreciation at 10% on fixed installment method.The account are close 31st December every year.

Answer 1

Explanation:

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