On 1st Jan 2015, Triveni Traders Raigad purchased a Plant for ₹12,000, and installation charges being 43,000. On 1st July 2016 another Plant was purchased for ₹25,000, on 1st April 2017 another Plant was purchased for 427,000, wages paid for installation amounted to 42,000. Carriage paid for the Plant amounted to ₹1,000 | Show Plant Account up to 31st March 2018 assuming that the rate of depreciation is @10%p.a. on Straight Line Method.

4. On 1st Jan 2015, Triveni Traders Raigad purchased a Plant for ₹12,000, and installation charges being 43,000. On 1st July 2016 another Plant was purchased for ₹25,000, on 1st April 2017 another Plant was purchased for 427,000, wages paid for installation amounted to 42,000. Carriage paid for the Plant amounted to ₹1,000.


Show Plant Account up to 31st March 2018 assuming that the rate of depreciation is @10%p.a. on Straight Line Method.


Solution:

Plant Account
Date  Particulars JF Amount Date Particulars JF Amount 
2015    2015    
1st Jan To Cash/Bank   15,000 31st March By Depreciation  375 
        
    31st March By Balance c/d  14,625 
   15,000    15,000 
2015    2016    
1st April To Balance b/d  14,625 31st March By Depreciation   1,500 
        
    31st March By Balance c/d  13,125 
   14,625    14,625 

2016    2017    
1st April  To Balance b/d  13,125 31st March By Depreciation   3,375 
1st July To Cash/Bank  25,000     
    31st March  By Balance c/d  34,750 
   38,125    38,125 
2017    2018    
1st April To Balance b/d  34,750 31st March By Depreciation  7,000 
1st April To Cash/Bank  30,000     
    31st March By Balance c/d  57,750 
   64,750    64,750 
        
Calculation & explanation:


1. 31st March 2015

(P1)

15,000*10%*3/12 = 375

2. 31st March 2016

(P1) 15,000*10% = 1,500

(P2) 25,000*10%*9/12 = 1,875


3. 31st March 2017

(P1) 15,000*10% = 1,500

(P2) 25,000*10% = 2,500

(P3) 30,000*10% = 3,000


Depreciation Calculator Tool 

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