1 2014 80,000 1 2015 40,000 1 2014 1 2016 50,000 1,20,000 10% 31 Royal Ltd. Company purchased a plant on 1st April 2014 for 80,000. On 1st July 2015 an additional plant costing 40,000. On 1st November 2016 the plant purchiased on 1st Ap sold off for 50,000 and on the same date, a fresh plant was purchased at the cost of 1, 20 Depreciation is provided at 10% per annum on the diminishing balance method Levery y are closed each year on 31st March. Show the plant account for first three years. Solution