Question

vation 6
reciation, Provisions and Reserves
Loss on sale (i.e. Rs. 40,000 - Rs. 35,000)
January 01, 2015, Khosla Transport Co. purchased five trucks for Rs. 20,000 each.
eciation has been provided at the rate of 10% p.a. using straight line method and
anulated in provision for depreciation acount. On January 01, 2016, one truck was
265
Sales value realised
(35,000)
5.0001
of Rs. 15,000. On July 01, 2017, another truck (purchased for Rs. 20,000 on Jan. 01,
was sold for Rs. 18,000. A new truck costing Rs. 30,000 was purchased on October
16. You are required to prepare trucks account, Provision for depreciation account
uck disposal account for the years ended on December 2015, 2016 and 2017 assuming
e
firm closes its accounts in December every year.
Book of Khosla Transport Co.
Trucks Account
Particulars
J.F.
Amount
Date
Particulars
J.F.
Amou​

Answer 1

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