Mrs singhania and bras purchased a plant for rs.10, 0000 and spend 5, 0000rs. On installation.solvage value of plant after its useful life of 10 year is estimated to be 10.000.prepare plant account and charge depriciation for H years(2017-2021).use straight line method, books of accounts closed on 31st march every year.
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Explanation:
(Rs.)Puchase cost50,00,000
Add: Installation cost50,000
Original cost5,50,000
Salvage value10,000
Useful life10years
RS 550000 - RS 10000÷ 10 = RS 549000
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