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On October 01, 2010, a Truck was purchas...

On October 01, 2010, a Truck was purchased for `Rs.` 8,00,000 by Laxmi Transport Ltd. Depreciation was provided at 15% p.a. on the diminishing balance basis on this truck. On December 31, 2013 this Truck was sold for `Rs.` 5,00,000. Accounts are closed on 31st March every year. Prepare a Truck Account for the four years.

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Profit on Sale of Truck `Rs.` 58,237
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