X Co. Ltd. purchased a lease of Rs. 50,000 on 1-1-90 to be replaced at the end of five years. For this purpose, one insurance policy is taken out for which the annual premium is Rs. 9,400. At the end of the period the lease is renewed for Rs. 45,000. Show the various ledger accounts in the books of the company.
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Ltd. purchased a lease of Rs. 50,000 on 1-1-90 to be replaced at the end of five years. For this purpose, one insurance policy is taken out for which the annual premium is Rs. 9,400. At the end of the period the lease is renewed for Rs. 45,000. Show the various ledger accounts in the books of the company.
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