Star Ltd. Purchased 10 trucks at Rs. 5,40,000 each on 1st July, 2011. On 1st January, 2014,
One of the truck is involved in an accident and is completely destroyed. A sum of Rs.
3,24,000 is received from the Insurance Company in full settlement. On the same date,
another truck is purchased by the company for a sum of Rs. 6,00,000. The company writes
off depreciation @ 20% p.a. on the original cost and closes its books every year on 31st
March. Give the Trucks Account for three years ending 31st March, 2014.
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Explanation:
book value on 31 March 2014 is 2187000
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