Depreciation Pr...

Gross book value of a group of asset is Rs. $$120,000$$ and total accumulated depreciation of Rs. $$24,000$$ and current depreciation of Rs. $$2000$$. The net book value of the asset is ___________.

Loss on disposal of assets is credited to _____________.

Over provision of liabilities result into creation of ________.

A firm purchased a new office equipment for Rs. $$18,000$$. The estimated life of the equipment is $$4$$ years at the end of which the estimated scrap value is likely to be RS. $$3000$$. If the firm follows the sum of years digit method of depreciation find the depreciation for the second year

Reserve is created for__________.

Profit and loss on Depreciation fund investment fund A/c is transferred to ______

Which of these statements is true about depreciation.

Provision is created for ________.

In the case of wasting Assets, the amount of charge determined on the basis of exhaustion of the assets is know as __________.

Capital reserve is_______.