11. A Van was purchased on 1st April, 2020 for ₹ 60,000 and ₹ 5,000 was spent on its repair and registration. On 1st October, 2021 another van was purchased for ₹ 70,000. On 1st April, 2022, the first van purchased on 1st April, 2020 was sold for ₹ 45,000 and a new van costing ₹ 1,70,000 was purchased on the same date. Show the Van Account from 2020-21 to 2022-23 on the basis of Straight-Line Method if the rate of Depreciation charged is 10% p.a. Assume that books are closed on 31st March every year.

 

T.S.Grewal/2024 Edition/Practical Problems/Q-11

For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.

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