Original cost = Rs.1, 26,000; Salvage value = Nil; Useful life = 6 years. Depreciation for the fourth year under sum of years digits method  will be

In the  case  of downward revaluation of an asset which is  for the  first time  revalued, the account to  be  debited  is

An asset was purchased for Rs. 12,500 and was depreciated under Reducing Balance Method at the rate of 20% p.a. What is the value of the asset at the end of three years?

The WDV of an asset after three years of depreciation on the reducing balance method   @ 10% p.a. is Rs. 36,450.What was original value?

Original Cost Rs. 1,26,000; Salvage Value Rs. 6,000; Useful Life 6 year

What will be the book value of the asset as at the beginning of fourth year (Under Sum of year’s digits method?)

A Trader purchased machinery for Rs.10, 000 in Jan 2019. Depreciation is charged @ 25% diminishing balance. At the end of third year it was sold for Rs. 1,000.Profit or loss on sale of machine will be :

For which of the following depletion method will be applied

A business has a machine which is depreciated using an Accelerated Depreciation method. Which statement is true?

The cost of using asset to earn revenue should be equated in the profit & loss Account to the revenue earned. Which concept is complied with for making provision for depreciation?

On 31^stJuly, 2018 a machine was purchased for Rs. 500000. The machine was sold on 1^st June 2022 for Rs 1,37,500 with Machine disposal A/c showing a credit balance of Rs. 37500. The depreciation policy for machinery is straight line basis with a full year being charged in the year of acquisition and none in the year of sale. The rate of depreciation is:

Amortization refers to writing off :

Asset costing 800000 was depreciated using Straight line method. At the time of purchase it had a estimated useful life of 8 years and estimated salvage value of Rs. 1,60,000. At the beginning of 5th year the Estimated life was revised as increasing by 2 more years and the estimated salvage value to be revised to Rs. 1,20,000. Revised Depreciation for Year 5 will be:

If the method of charging Depreciation is to be changed then the effect is to be shown with:

Second hand Furniture purchased for 90,000; Cost of Repainting and polishing Rs. 10,000; Wages paid for fixing the furniture 5,000; Annual Insurance premium paid 2,000; Tax paid 7,000 and credit received Rs 6000; Salvage value Rs. 6,000. SLM Depreciation % will be applied on Rs.

If the equipment account has a balance of 22,50,000 and the accumulated depreciation account has a balance of 14,00,000, the book value of the equipment iS;

A plant with original cost of 50,00,000 was revalued after 2 years resulting in credit to Revaluation Surplus account of 4,00,000. Towards the year end of 2019-20, due to COVID-19 the plan value had gone down by ` 5,00,000 and accordingly management decided to revalue the same. What shall be the impact of this downwards revaluation on the Profit & Loss Account?

If a concern proposes to discontinue its business from March 2015 and decides to dispose of all its plants within a period of 4 months, the Balance Sheet as on March 31, 2015 should indicate the plants at their

Which of the following assets does not depreciate?

A company developed a technology to enhance the battery life of mobile phones. The cost of development have been capitalized as an intangible asset at ₹ 5,00,000. The company estimates the life of the technology developed to be 3 years. The company has forecasted that 50% of sales will be in year 1, 35% in year 2 and 15% in year 3. What should be the amortisation charge in third year?