A company has acquired a lease of a cinema building for a term of 5 years
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A company has acquired a lease of a cinema building for a term of 5 years

A company has acquired a lease of a cinema building for a term of 5 years by payment of Rs. 4,00,000. It is proposed to depreciate the lease by the annuity method, charging 5% p.a. Show the Ledger Account of asset during the period of the lease. Reference to the Annuity Table shows that the amount for Rs. 1 for 5 years at 5% is Re. 0.230975. Calculations are to be made to the nearest rupee.

Hint
Accounts & FinanceAn account or record used to keep track of transactions for the balance sheet and income statement is known as an accounting ledger. Accounts like as cash, accounts receivable, investments, inventory, accounts payable, accrued costs, and client deposits can all be included in accounting ledger journal entries....

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