Depreciation Pr...

Consider a piece of machinery costing Rs. $$30,000$$ with an estimated life of 10 years. At the end of this time it can be sold for Rs. $$3,000$$. Using the equal installment method the annual charge against profits would be ________.

Plant asset are depreciated over their useful lives. Which basic principle of accounting does this procedure reflect?

Which of the following statements is/are false?
I. The term 'depreciation', 'depletion' and 'amortization' have same meaning
II. Provision for depreciation A/c is debited when provision for depreciation is created.
III. The main purpose of charging the Profit and Loss A/c with the amount of depreciated is to spread the cost of an asset over its useful life.

The portion of the acquisition cost of the asset, yet to be allocated is known as ___________.

A Company purchased a machinery on April 01, 2000 for Rs $$1,50,000$$. It is estimated that the machinery will have a useful life of 5 years after which it will have no salvage value. The depreciation charged during the year 2004-05 was ______________.

Original cost of an asset was Rs. $$2,52,000$$. Salvage value was $$12,000$$. Depreciation for 2nd year @$$10$$% p.a under WDV method will  be

The cost of a machine is Rs. $$2,000$$. Two years later the book value is Rs. $$1,000$$. The straight-line percentage depreciation is _________.

Original cost of an asset was Rs. $$1,00,000$$. Life 5 years. Expected salvage value was Rs. 5,000. Hence Depreciation for 3rd year as per straight line method is ___________.

Amit Ltd. purchased a machine on $$01.01.2003$$ for Rs. $$1,20,000$$. Installation expenses were Rs. $$10,000$$. Residual value after $$5$$ years Rs. $$5,000$$. On $$01.07.2003$$, expenses for repairs were incurred to the extent of Rs. $$2,000$$. Depreciation is provided under straight line method. Depreciation rate is $$10\%$$ Annual Depreciation will be ____________.

The main purpose of depreciation accounting is to _____________.