Depreciation Pr...

A machinery was purchased for Rs.180000 on 1st January, 2006. Depreciation was charged annually @ 10% on written down value method. 1/4th of this machinery was sold on 1St July, 2008 for Rs.36000.Calculate profit on sale of machinery

A machinery was purchased for Rs.180000 on1 st January, 2010. Depreciation was charged annually@ 10% on written down value method. 1/4th of this machinery was sold on 1St July, 2012 for Rs.36000.Calculate balance of machinery account on 31st December 2012

On October 01, 2009, a Truck was purchased for Rs.800000 by Laxmi Transport Ltd. Depreciation were provided at 15% p.a. on the diminishing balance basis on this truck. On December 31, 2012 this Truck was sold for Rs.500000. Accounts are closed on 31st March every year. Calculate profit on sale of Truck

Calculate provision for doubtful debt from the following information Sundry debtor- Rs.95200, Further bad debts (new) Rs.11200, provision fro doubtful debt to be maintained is 10 %

The trial balance show the following information Creditors, bad debt-Rs.800 and sundry debtors-Rs.35000 What amount will be debited to Profit and loss account?

Depreciation is Charged on :

At the end of the year, Depreciation Account is transferred to :

Provision is created by debiting :

The cause of Depreciation is :

a. Obsolosence

b. Usage of Asset

c. Wear and tear

Depreciation is a process of :