Akbar & Co. purchased a Plant for Rs. 80,000 on 01-04-2001. It is Depreciated at 10% p.a. on reducing Balance method for three years. Accounts are closed on 31^st March every year. Pass the Journal Entries.

A Motor car was purchased on 1st January, 2013 for Rs. 25,000, depreciated at 10% on diminishing balance method. It was, sold for Rs.16,500 on 3^st December, 2015, Prepare motor car account. The accounts are closed on 31^st December every year.

A furniture costing Rs. 5,000 has been purchased on 1.1.2011, the installation charges being Rs. 1,000. The furniture is to be depreciated @10% p.a on the diminishing balance method. Show the furniture account and depreciation account for the first three years.

Sunil & company purchased a fixed asset on 1.4.2002 for Rs. 5,00,000. Depreciation is to be provided @ 15% per annum according to straight line method. The books are closed on 31^st March every year. Prepare fixed asset account and depreciation account for three years.

Write a note on sum of years of digits method.