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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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संबंधित प्रश्न
Answer in One Sentence only:
What is the formula to calculate depreciation by Straight Line Method?
Write the word/term/phrase which can substitute the following statement:
The type of asset on which depreciation is charged.
State whether the following statement is True or False with reasons:
Depreciation is charged on fixed assets.
State whether the following statement is True or False with reasons:
Depreciation is charged on Current Assets only.
If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is ______.
List out the various methods of depreciation.
State the limitations of straight-line method of depreciation.
Raj & Co purchased a machine on 1st January 2014 for ₹ 90,000. On 1st July 2014, they purchased another machine for ₹ 60,000. On 1st January 2015, they sold the machine purchased on 1st January 2014 for ₹ 40,000. It was decided that the machine be depreciated at 10% per annum on the diminishing balance method. Accounts are closed on 31st December every year. Show the machinery account for the years 2014 and 2015.
A machine costing ₹ 23,000 is estimated to have a life of 7 years and the scrap value is estimated at ₹ 2,000 at the end of its useful life. Find out the amount of depreciation p.a.
Under which method might two identical machines purchased at the same cost show different depreciation expenses in two companies?
