Advertisements
Advertisements
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
Advertisements
उत्तर
Mines and quarries
APPEARS IN
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 period for which the asset remains in working condition.
State whether the following statement is True or False with reasons:
Depreciation is charged on Current Assets only.
Complete the following sentence:
Depreciation Account is a ______ account.
State the advantages of straight-line method of depreciation.
Calculate the rate of depreciation under straight-line method from the following information:
Purchased second-hand machinery on 1.1.2018 for ₹ 38,000
On 1.1.2018 spent ₹ 12,000 on its repairs
Expected useful life of the machine is 4 years
Estimated residual value ₹ 6,000.
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.
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.
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.
