Depreciation Pr...

A change in accounting policy e.g. change in method of depreciation is justified -

A machine was purchased on 1st January 2013 for Rs 25,000 and is to be depreciated at 30 % p.a. based on reducing balance method. If the company closes books of account on 31st March every year, what would be the net book value of the equipment as at 31st December, 2014?

Hi-Fi Ltd acquired machinery on 1st January 2012 at a cost of Rs36,000 and spent Rs.4,000 for its installation. The firm writes off depreciation at 10% p.a. on WDV basis. The books are closed on 31st December. Depreciation for 1st& 2nd year will be Rs________ & Rs_______.

On 1.8.2012 K Ltd. bought four Matador Vans costing Rs 1,20,000 each. 

Original Cost = Rs$$1,00,000$$. Life = $$5$$ years. Expected salvage value = Rs$$2,000$$. What will be the rate of depreciation p.a?

On $$1.1.2014$$, the Plant Account showed a balance of Rs.$$80,000$$. Out of the above,  a Plant whose book value was Rs$$10,000$$ on that date, was sold for Rs$$6,000$$ on $$1.4.2015$$. On $$1.10.2015$$, the plant was purchases 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 $$31.3.2015$$=?

A 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. The books are closed on $$31st$$ December every year. After $$3$$ years machine sold for Rs$$9,000$$. Profit/Loss on sale = ?

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______?______.

Consider the following information:
Rate of depreciation under the written down method = $$20\%$$; Original cost of the asset = Rs$$1,00,000$$; Residual value of the asset at the end of useful life = Rs.$$40,960$$.
Estimated useful life of the asset = ?

On $$1st$$ April $$2015$$ in Sethi's Ledger, furniture account showed a balance of Rs$$2,00,000$$. On $$1st$$ October, $$2015$$ Sethi purchased new furniture by paying Rs$$5,000$$ and giving old furniture whose book value on $$1st$$ April $$2015$$ was Rs $$12,000$$ to the seller. Sethi provides depreciation on furniture @ $$10\%$$ p.a on diminishing balance method. The net book value of furniture in Seti's book on $$31.3.2016$$=?