Question

The LG Transport company purchased 10 trucks at 45,00,000 each on 1st April 2014. On October 1st,
16 one of the trucks is involved in an accident and is completely destroved and 27,00,000 is recen
from the insurance in full settlement. On the same date another truck is purchased by the company
for the sum of 50,00,000. The company write off 20% on the original cost per annum. The company
observe the calendar year as its financial year.
Give the motor truck account for two year ending 31 Dec, 2017.

Please give full calculation on how balance from Depreciation account is coming 83,50,000 in Motor Truck Account ​

Answer 1

Answer:

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