Question - 32 

On 1st April 2011 satkar trnasport Ltd. pruchased 3 buses for Rs. 30,00,000 each on 1st October 2013 one bus was involved in an accident and was completely destroyed and Rs. 7,00,000 were received from teh insurance company in full settlement depreciation is written off @ 15% p.a. on diminishing balance method prepare bus account from 2011 to 2014 books are closed on 31st December each year.