Depreciation Pr...

Asset purchase on 1st April 2012 at Rs.100000. Calculate the amount of asset on 1st April 2017, depreciation @ 20% p.a. under the straight-line method.

A provision is a ___________.

Asset purchased on 1st September 2020 for $$Rs.15000$$. Calculate depreciation as on 31 March 2021 on the asset, rate of depreciation is 12% ____________.

The original cost of the asset is Rs. 6,00,000 and depreciation is charged @ 10% p.a. at written down value, then the amount of depreciation in 3rd year will be :

 Under Written Down Value Method depreciation is charged on ________ of the asset.

Secret reserves may result by ___________.

The written down method is based on __________________ assumption of same amount.

Depreciation is necessary under __________ act.

An asset is purchased in 2020 at Rs.10,000. Calculate the book value of the asset after 2 years, when depreciation is charged @ 10% p.a. under the straight-line method.

Give journal entries for:
Transfer of balance in asset account in case of loss.