Depreciation- straight line method 2

Front

The amount of depreciation charged on machinery is debited to:

Back

Depreciation account

Front

In which of the following two methods does the amount of depreciation remain the same throughout: Straight line method, Diminishing balance method?

Back

Straight line method

Front

Under straight line method if the cost of asset is 45000 and scrap value is 5000 and useful life is 10 year, then the amount of depreciation will be:

Back

4000

Front

In case of sale of an asset which account is credited? Options: Sales account, Goods account, Asset account, Cash account

Back

Asset account

Front

Depreciation under fixed installment method is calculated

Back

On purchase price of asset

Front

A machine is purchased for 1,80,000 and its installation charges are 20000. Depreciation is 10% on straight line method. Calculate the value of depreciation for 1st year.

Back

20000

Front

A machine was purchased on 1st Jan 2015 for 20000. On 1st July 2015 another machine was purchased for 10000. Depreciation is charged at the rate of 10% on straight line method on 31st December. Calculate the value of depreciation in first year

Back

The total cost of the machines is 30000. The depreciation for the first machine is 2000 and for the second machine is 500, making the total depreciation 2500.

Front

Depreciation of asset for business is:

Back

Expense