On 1st Jan. 2017, Panjim Dryfruits Ltd. bought a plant for ₹ 15,00,000. The company writes off depreciation @ 20% p.a. on Written Down Value Method and Closes its books on 31st March every year

On 1st Jan. 2017, Panjim Dryfruits Ltd. bought a plant for ₹ 15,00,000. The company writes off depreciation @ 20% p.a. on Written Down Value Method and Closes its books on 31st March every year. On 1st Oct. 2019, a part of the plant purchased on 1st Jan. 2017 for ₹ 3,00,000 was sold for ₹ 1,75,000. On 1st Jan. 2020 a fresh plant was purchased for ₹ 5,00,000. Prepare Plant A/c, Provision for Dep. A/c and Plant Disposal A/c.

[Ans. Balance of Plant A/c on 31st March 2020 ₹ 17,00,000; Balance of Provision for Dep. A/c on 31st March 2020 ₹ 6,41,320; Gain on sale of plant ₹ 10,840.]