On January 01, 2015, Khosla Transport Co...

On January 01, 2015, Khosla Transport Co. purchased five trucks for `Rs.` each. Depreciation has been provided at the rate of `10% `p.a. using straight line method and accumulated in provision for depreciation acount. On January 01, 2016, one truck was sold for `Rs.` 15,000 . On July 01,2017 , another truch (Purhcased for `Rs.` 20,000 on Jan, 01, 2014) was sold for `Rs.` 18,000 . . A new truck costing `Rs.` 30,000 was purhcased on October 01, 2016. You are required to prepare trucks account, Provision for depreciation account and Truck disposal account for the years ended on December 2015, 2016 and 2017 assuming that the firm closes its accounts in December every year.

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