Depreciation Pr...

Rahul Ltd. purchased a Machinery on 1st May, 2009 for Rs.60000. On 1St July, 2010 it purchased another Machine for Rs.20000. On 31st March, 2011 it sold off the first machine purchased in 2009 for Rs.39000. Depreciation is provided at 20% on the original cost each year. Accounts are closed each year on 31st December. Calculate the Machinery account balance on 2011

Rohan Ltd. purchased a Machinery on 1st May, 2009 for Rs.60000. On 1st July, 2010 it purchased another Machine for Rs.20000. On 31st March, 2011 it sold off the first machine purchased in 2009 for Rs.39000. Depreciation is provided at 20% on the original cost each year. Accounts are closed each year on 31st December. Calculate profit on machine

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

The depreciation charged on an asset will be credited to :

Depreciation is Charged on :

Sakshi Ltd. purchased on 1st January, 2009 a machinery for Rs.36000 and spent Rs.4000 on its installation. On 1 st July, 2009 another machine purchased for Rs.20000. On 1 st July, 2011, machine bought on 1 s January, 2009 was sold for Rs.12000 and a new machine purchased for Rs.64000 on the same date. Depreciation is provided on 31st December @ 10% p.a. on the written down value method. Calculate loss on sale of machine

Provision is created by debiting :

The loss on sale of an asset is debited to:

Sakshi Ltd. purchased on 1st January, 2009 a machinery for Rs.36,000 and spent Rs.4,000 on its installation. On 1st July, 2009 another machine purchased for Rs.20,000. On 1st July, 2011, machine bought on 1st January, 2009 was sold for Rs.12,000 and a new machine purchased for Rs.64,000 on the same date. Depreciation is provided on 31st December @ 10% p.a. on the written down value method. Calculate balance of machinery A/c on 2011

Under Reducing Balance Method, depreciation to be charged :

a. Original value
b. Real value
c. Scrap value

Which of the following is the example of Capital Reserve?

Depreciation is a process of :

Asset Disposal A/c is prepared when :

The cause of Depreciation is :

a. Obsolescence
b. Usage of Asset
c. Wear and tear

Dividend Equalisation Reserve is :

Shyam Ltd. purchased machinery on 1stMay, 2009 for Rs.60000. On 1st July, 2010 it purchased another machine for Rs.20000. On 31st March, 2011, it sold the first machine purchased in 2009 for Rs.38500. Depreciation provided @ 20% p.a. on the original cost every year. Accounts are closed 31st December every year. Calculate balance of machine on 2011

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?

Which of the following methods of depreciation is not recognized by Income Tax Law?

According to Companies Act, 1956 Secret Reserves can be created by:

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

General Reserves are shown in :

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 %

Which of the following is the example of Revenue Reserve?

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