x ltd. purchased on april 1, 2015 a second hand plant for rs.4,00,000 and immediately spent rs.80,000 for its overhauling and rs.20,000 for its installation. on oct., 1, 2018 the plant became obsolete and was sold for rs.2,00,000. depreciation is provided at 10% p.a. on original cost method. accounts are closed each year on 31st march. show the necessary ledger accounts assuming that: (a) ‘provision for depreciation account’ is not maintained, and (b) ‘provision for depreciation account’ is maintained
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rs.4,00,000 and immediately spent rs.80,000 for its overhauling and rs.20,000 for its installation. on oct., 1, 2018 the plant became obsolete and was sold for rs.2,00,000. depreciation is provided at 10% p.a. on original cost method. accounts are closed each year on 31st march. show the necessary ledger accounts assuming that: (a) ‘provision for depreciation years from July good come king
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