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महाराष्ट्र राज्य शिक्षण मंडळएचएससी कला (इंग्रजी माध्यम) इयत्ता ११ वी

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

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प्रश्न

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

बेरीज
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उत्तर

Depreciation p.a. = Cost of computer (×) percentage

=  `40,000 × 8/100`

=  ₹ 3,200 p.a.

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पाठ 7: Depreciation - Exercises [पृष्ठ २४४]

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बालभारती Book Keeping and Accountancy [English] Standard 11 Maharashtra State Board
पाठ 7 Depreciation
Exercises | Q 8. 2. | पृष्ठ २४४

संबंधित प्रश्‍न

Answer in One Sentence only:

Why depreciation is charged even in the year of loss?


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.


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

Expenses incurred for fixation of the new asset to bring it in working condition.


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

Excess of Selling price of fixed asset over its Written Down Value.


State whether the following statement is True or False with reasons:

Depreciation need not be charged when business is making losses.


Do you agree or disagree with the following statement:

The rate of depreciation depends upon the life of fixed asset.


Do you agree or disagree with the following statement:

By charging depreciation on fixed assets ascertainment of true and fair financial position is possible.


If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is ______.


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


A depreciable asset may suffer obsolescence due to ______.


Which method shall be efficient, if repairs and maintenance cost of an asset increases as it grows older.


State the advantages of straight-line method of depreciation.


A firm purchased a plant for ₹ 40,000. Erection charges amounted to ₹ 2,000. The effective life of the plant is 5 years. Calculate the amount of depreciation per year under the straight-line method.


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.


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.


Machinery was purchased on 1st January 2015 for ₹ 4,00,000. ₹ 15,000 was spent on its erection and ₹ 10,000 on its freight charges. Depreciation is charged at 10% per annum on the straight-line method. The books are closed on 31st March each year. Calculate the amount of depreciation on machinery for the first two years.


On 1st October 2014, a truck was purchased for ₹ 8,00,000 by Laxmi Transports Ltd. Depreciation was provided @ 15% p.a. under diminishing balance method. On 31st March 2017, the above truck was sold for ₹ 5,00,000. Accounts are closed on 31st March every year. Find out the profit or loss made on the sale of the truck.


Mr. ‘X’ purchased Furniture on 1st October 2015 at ₹ 2,80,000 and spent ₹ 20,000 on its installation. He provides depreciation at 6% under the straight-line method on 31st March 2016. Calculate the amount of depreciation.


M/s Sitaram and Co Purchased a Machinery on 1st January 2016 for ₹ 2,00,000. The company provides depreciation @ 10% p.a. on Reducing Balance Method on 31st March every year. Calculate Written Down Value of Machinery as of 31st March 2017.


On 1st Jan 2015, Triveni Traders Raigad purchased a Plaint for ₹ 12,000, and installation charges being ₹ 3,000. On 1st July 2016 another Plant was purchased for ₹ 25,000, on 1st April 2017 another Plant was purchased for ₹ 27,000, wages paid for installation amounted to ₹ 2,000. Carriage paid for the Plant amounted to ₹ 1,000. Show Plant Account up to 31st March 2018 assuming that the rate of depreciation is @ 10% p.a. on Straight Line Method.


Radhika-Masale’ Amravati purchased a Plant on 1st Jan. 2015 for ₹ 80,000. A new Plant was also purchased
for ₹ 60,000, installation expenses being ₹ 10,000 on 1st April 2016. On 1st Jan 2017, a new Plant was purchased for ₹ 20,000, by disposing of the 1st Plant at ₹ 60,000.
Prepare Plant Account and Depreciation Account for 31st March 2015, 31st March 2016, and 31st March 2017, assuming that the rate of depreciation was @ 10% on Diminishing Balance Method.
Solution:


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.


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 Annuity Method is most suitable when:


The Sum-of-the-Years’-Digits Method results in:


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