a company depreciates its plant at the rate of 20 per cent per annum, straight line method, for each month of ownership. from the following details draw up the plant account and the accumulated depreciation account for each of the years 19X4, 19X5, 19X6 and 19X7
19X4 Bought plant costing R900 on 1 January.
bought plant costing R600 on 1 October.
19X6 Bought the plant costing R550 on 1 July.
19X7 sold plant which had been bought for R900 on 1 January 19X4 for the sum of R275 on September 19X7
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