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Depreciation is to be calculated from the date when ______. - Accountancy

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प्रश्न

Depreciation is to be calculated from the date when ______.

पर्याय

  • Asset is put to use

  • Purchase order is made

  • Asset is received at business premises

  • Invoice of assets is received

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उत्तर

Depreciation is to be calculated from the date when asset is put to use.

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पाठ 10: Depreciation Accounting - Multiple choice questions [पृष्ठ २२४]

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सामाचीर कलवी Accountancy [English] Class 11 TN Board
पाठ 10 Depreciation Accounting
Multiple choice questions | Q I 9. | पृष्ठ २२४

संबंधित प्रश्‍न

Complete the following sentence:

Depreciation is charged on ______ asset.


Under the written-down value method of depreciation, the amount of depreciation is ______.


List out the various methods of depreciation.


From the following particulars, give journal entries for 2 years and prepare machinery account under straight-line method of providing depreciation:

Machinery was purchased on 1.1.2016

Price of the machine ₹ 36,000

Freight charges ₹ 2,500

Installation charges ₹ 1,500

Life of the machine 5 years


If the cost of the Computer is ₹ 40,000 and depreciation is to be charged at 8% p.a. Calculate the amount of depreciation.


On 1st July 2016 M/s. Ramai & Co. .sold Machinery for ₹ 7,000 the original cost of ₹ 10,000 which was purchased on 18th April 2015. Find out the profit or loss on sale of Machinery by charging depreciation at 10% p.a. on original cost on 31st March every year.


Samarth Manufacturing Co. Ltd, Aurangabad, purchased a New Machinery for ₹ 45,000 on 1st Jan 2015 and immediately spent ₹ 5,000 on its fixation and erection. In the same year, 1st July additional Machinery costing ₹ 25,000 was purchased. On 1st July 2016, the Machinery purchased on 1st Jan 2015 became obsolete and was sold for ₹ 40,000.
Depreciation was provided annually on 31st March at the rate of 10% per annum on the Fixed Instalment Method.
You are required to prepare Machinery Account for the year 2014-15, 2015-16, 2016-17.


M/s Omkar Enterprise Jalgaon acquired a Printing Machine for 75,000 on 1 Oct 2015 and spent 5,000 on its transport and installation. Another Machine for 45,000 was purchased on 1st Jan 2017. Depreciation is charged at the rate of 20% on the Written Down Value Method, on 31st March every year.

Prepare Printing Machine Account for the first four years.


On 1st April 2015 Farid of Nasik purchased a Motor Car for ₹ 55,000. The scrap value of the Motor Car was estimated at ₹ 10,000 and its estimated life is 10 years. The Registration charges of the Motor Car was ₹ 5,000.
Show Motor Car Account for first four years, assuming that the books of accounts are closed on 31st March every year.


The Double Declining Balance Method applies depreciation:


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