Question:
A plant costing Rs. 75,000 was issued to a contract on 1 January 2009. Plant costing Rs. 5,000 was transferred to another contract on 30 June 2009. A plant costing Rs. 2,500 was stolen. Another plant worth Rs. 2,000 was destroyed by fire. A plant costing Rs. 1,500 was sold for Rs. 2,000. Charge depreciation is @ 10%p.a. Ignore the depreciation for plant stolen, destroyed and sold. Show the extracts from contract Account relating to plant.