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