Answer to Question #270398 in Economics for Binaya

Question

A management college located at Kathmandu brought a college bus on 1st January 2014 for RS 225000 with estimated useful life of five years with scrap value of RS 25000 after expiry of useful life. On 1st July 2017 number of student admitted in college increased and purchased another bus RS 500000 with 10 years life and zero scrap value. Accounts are closed on December 31st, each year.

Required: Bus account for the first 5 years.

Answer 1

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