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तामिळनाडू बोर्ड ऑफ सेकेंडरी एज्युकेशनएचएससी वाणिज्य इयत्ता ११

For which of the following assets, the depletion method is adopted for writing off cost of the asset?

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प्रश्न

For which of the following assets, the depletion method is adopted for writing off cost of the asset?

पर्याय

  • Plant and machinery

  • Mines and quarries

  • Buildings

  • Trademark

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उत्तर

Mines and quarries

shaalaa.com
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पाठ 10: Depreciation Accounting - Multiple choice questions [पृष्ठ २२३]

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सामाचीर कलवी Accountancy [English] Class 11 TN Board
पाठ 10 Depreciation Accounting
Multiple choice questions | Q I 5. | पृष्ठ २२३

संबंधित प्रश्‍न

Answer in One Sentence only:

Which account is credited when depreciation is charged?


Answer in One Sentence only:

Which account is debited when expenses are paid on installation of Machinery?


Write the word/term/phrase which can substitute the following statement:

The type of asset on which depreciation is charged.


Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount spent on installation of new machinery is a ______ expenditure.


Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount of depreciation remains constant every year under ______


A company purchased a building for ₹ 50,000. The useful life of the building is 10 years and the residual value is ₹ 5,000. Find out the amount and rate of depreciation under the straight-line method.


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.


Shubhangi Trading Company of Dombivli purchased Machinery for ₹ 86,000 on 1st January 2016 and immediately spent ₹ 4,000 on its fixation and erection. On 1st October 2016 additional Machinery costing ₹ 40,000 was purchased.

On 1st October 2017, the Machinery purchased on 1st January 2016 became obsolete and was sold for ₹ 70,000. On 1st July 2017, a new Machine was also purchased for ₹ 45,000.

Depreciation was provided annually on 31st March at the rate of 12% per annum on the fixed installment method.
Prepare Machinery Account for three years and pass Journal Entries for the Third year i.e. 2017-2018.


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 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 charge for 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.


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