Question

प्रश्न 19 से प्रश्न 22 के सही उत्तर चुन कर लिखिए​

Answer 1

Q.2

The Speed Transport Company purchased a motor truck for 30,000 on 1.1.2002. On 1.4.2002

another truck was purchased for 12,000. On 1.07.2004 the truck purchased on 1.1.2002 was

sold for 12,000 and a new truck was purchased for 26,000 on the same date. On 1.05.2005 the

company exchanged, the latest purchased truck for new truck with the same vendor. The

exchange agreement included the adjustment of 20,000 for the truck returned and payment of

10,000 in cash. The payment was made on 5.05.2005.

The company further purchased a new truck for 31,500 on 1.07.2006. This truck met accident

on 1.09.2007 and completely wrecked. The company received 20,000 from the insurance

company in full settlement of the claim on 28.09.2007. The books are closed on 31 Dec. each

year and company charg