The balance on an entity's plant and machinery account on 1 January 20X2 was £5,000. During that year the following transactions took place on the dates shown:-
1 May 20X2 Plant which had originally cost £750, was sold
1 September 20X2 New machinery costing £3,000 was purchased
If depreciation is calculated at a rate of 10% per annum, on a strict time basis, using the straight line basis, the depreciation charge on plant and machinery for the year to 31 December 20X2, to the nearest pound is:

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The Answer of The balance on an entity's plant and machinery account on 1 January 20X2 was £5,000. During that year the following transactions took place on the dates shown:-
1 May 20X2 Plant which had originally cost £750, was sold
1 September 20X2 New machinery costing £3,000 was purchased
If depreciation is calculated at a rate of 10% per annum, on a strict time basis, using the straight line basis, the depreciation charge on plant and machinery for the year to 31 December 20X2, to the nearest pound is:

The Balance on an Entity's Plant and Machinery Account on 1