Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

kindly help with this The book value of Plant (P1) as on January 12017 in the books of HUL Ltd, showing debit balance of '

kindly help with this
image text in transcribed
The book value of Plant (P1) as on January 12017 in the books of HUL Ltd, showing debit balance of ' 2,00,000. The new Plant (P2) was purchase for '1,00,000 on October 12017 and Plant (P3) for '5,00,000 on July 12018 . On April 12019 Plant (P1) was sold for '1,72,000. HUL Ltd provide deprecation with Straight Line Method@10 per cent per annum on December 31 every year. During 2019, the management of HUL Ltd has decided to change in method of providing depreciation from straight line method@10 per cent per annum to Diminishing Balance Method@30 per cent per annum with prospectively effects

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Money Banking and Financial Markets

Authors: Stephen Cecchetti, Kermit Schoenholtz

5th edition

77536320, 77536329, 1259746747, 978-1259746741

Students also viewed these Accounting questions