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Depreciation Pr...

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  • Question 1
    1 / -0

    B Ltd acquired a machine on 1st January, 2010 at a cost of Rs. $$14,000$$ and spent Rs. $$1,000$$ on its installation. The firm writes off depreciation at $$10$$% p.a. of the original cost every year. The books are closed on 31st December every year. After 3 years machine sold for Rs. $$13,000$$. Profit/Loss on sale = ?

  • Question 2
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    N Ltd purchased machine for Rs. $$1,00,000$$ on 1.1.2012. Installation expenses were Rs. $$10,000$$. Life of the asset is 5 years at the end of which asset can be sold at Rs. $$5,000$$. Depreciation rate is $$15$$% on WDV. Depreciation for 4th year =Rs. ?

  • Question 3
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    Original cost =Rs. $$12,00,000$$. Salvage value =Rs. $$2,00,000$$. Useful Life$$=10$$ years. Annual depreciation = ? and rate of depreciation = ?

  • Question 4
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    In the books of SZ Ltd. the machinery account shows a debit balance of RS. $$60,000$$ as on 1.4.2015. The machinery was sold on 30.9.2016 for Rs. $$30,000$$. The company charges depreciation @ 20% under Written Down Value Method. Profit/Loss on sale = ?

  • Question 5
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    The written down value of machine on 31st March 2013 is Rs. $$72,900$$. The machine was purchased on 1st April, 2010, Depreciation is charged @ $$10$$% p.a by diminishing balance method. The cost price of the machine = ?

  • Question 6
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    Directions For Questions

    The balance in accumulated depreciation account of a company at the beginning of year 2008-2009 was Rs. $$2,00,000$$, when the original cost of the assets amounted to Rs. $$10,00,000$$. The company charges $$10$$% depreciation on a SLM basis for all assets including those which have been either purchased or sold during the year. One such asset costing Rs. $$5,00,000$$ with accumulated depreciation as at the beginning of the year of RS. $$80,000$$ was disposed off during the year.

    ...view full instructions

    Depreciation for the current year = ?

  • Question 7
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    Loss on machine sold on 1.10.2002 in year 2002-2003 will be -

  • Question 8
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    Directions For Questions

    In the year 2014-2015 C Ltd. purchase a new machine and made the following payments in relation to it:
    ParticularsRs
    Cost as per supplier's list$$5,20,000$$
    Agreed discount$$50,000$$
    Delivery charges$$10,000$$
    Erection charges$$20,000$$
    Annual maintenance charges$$30,000$$
    Additional components to increase capacity
    of machine    		$$40,000$$
    Annual insurance premium$$5,000$$

    ...view full instructions

    If depreciation is provided @ $$10$$% p.a. SLM, depreciation for 3rd year will be -

  • Question 9
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    On 1.8.2012 K Ltd. bought four Matador Vans costing Rs. $$1,20,000$$ each. The company expected to fetch a scrap value of $$25$$% of the cost price of the vehicles after $$10$$ years. The vehicles were depreciated under the fixed instalment method upto 31.3.2015. The rate of depreciation charged upto 31.3.2015 = ?

  • Question 10
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    On 1.1.2015, the Plant Account showed a balance of RS. $$80,000$$. Out of the above, a Plant whose book vale was Rs. $$10,000$$ on that date, was sold for Rs. $$6,000$$ on 1.4.2015. On 1.10.2015, the plant was purchased for Rs. $$20,000$$. Depreciation is charged at $$10$$ p.a on SLM basis and books of accounts are closed on 31st December each year. Balance of Plant on 31.12.2015 = ?

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