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Q No. 3) Sabeen Naseem bought 3 Motor Cars during 2005 as follows. (15) Car A, on 19 January for Rs. 550000 Car B, on
Q No. 3) Sabeen Naseem bought 3 Motor Cars during 2005 as follows. (15) Car A, on 19 January for Rs. 550000 Car B, on 1st Aprit for Rs. 600000 Car C, on 19 July for Rs. 540000 She closes her books on 3th September each year and provides 30% Depreciation p.a on book value on all Motor Cars. On 19 October 2006 he sold car A for Rs. 250000. On 19 January 2007 she traded in car Cat Rs. 395000 for another car J that cost Rs. 600000 meeting the difference in cash. Show the Motor Cars account, Depreciation expense account, Provision for Depreciation on Motor Cars and Disposal of Assets account in her ledger, balanced each year on 30th September, till 30 September 2007
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