Depreciation Pr...

Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from -
I. Use
II. Effluxion of time
III. Obsolescence through technology and market changes
Select the correct answer from the options given below

Sinking funds is created for___________.

Which of these is known as accelerated method of depreciation?

Which of these is not an accepted method of depreciation

Providing depreciation on fixed assets over its useful life is an application of __

On 1.1.06 Novel Industries pin-chased new office equipment for Rs. 150,000 with a working life of 10 years. The estimated scrap value at the end of 10 years is estimated to be Rs. 20,000. Find the depreciation for the 10th year under Straight-Line Method.

Accumulated Depreciation account has a _____________.

A company purchased a new machine for Rs$$\,5,00,000$$ and machine's test run was started to make sure that machine works properly. There was expense of Rs $$5,000$$ incurred on test run, however the sale proceeds of test production were Rs $$2,000$$. You are required to find out the total cost of machine?

A purchased an old computer costing Rs. $$10,000$$ and incurred Rs. $$1,000$$ on its repair and Rs. $$500$$ on its packing. He sold the computer at $$20\%$$ margin on selling price. The sales value will be _________________.

Q.Ltd acquired machinery on $$1$$st January $$2011$$ at a cost of Rs$$72,000$$ and spent Rs$$8,000$$ for its installation. The firm writes off depreciation at $$10\%$$ p.a on the original cost every year. The books are closed on $$31$$st December every year. Closing balance of machinery for $$1$$st & $$2$$nd year as per fixed instalment method will be Rs............