BRS

XYZ Limited purchased a Plant of Rs 950,000 on 1st January 2001 and on 1st July 2001 Company purchased another Plant of Rs 250,000. On 1st October 2002, a part of Plant purchased on 1st January 2001 for Rs 250,000 was sold for Rs 150,000 and on the same date the company purchased another Plant of Rs 55,000 Company adopted a policy to charge Depreciation on its Plant @ 10% P.A on Fixed Installment Method. Prepare Machinery Account, Provision for Depreciation on Plant A/C and Plant Disposal Account for the year 2001 to 2003, assuming the firm closes its books on 31st December every year. Can anybody provide the answer for this please!! A solved version please

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