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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.

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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?


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:

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


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

The amount of depreciation reduces year after year under ______


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:

Under written down value method the Depreciation curve slopes parallel to 'X' axis.


Complete the following sentence:

The amount spent on installation of Machinery is a ______ expenditure.


Under straight-line method, the amount of depreciation is ______.


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


Give the formula to find out the amount and rate of depreciation under straight line method of depreciation.


State the advantages of straight-line method of depreciation.


State the advantages of written down value method of depreciation.


Distinguish between straight-line method and written down value method of providing depreciation.


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.


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.


An asset is purchased on 1.1.2016 for ₹ 50,000. Depreciation is to be provided annually according to the straight-line method. The useful life of the asset is 10 years and its residual value is ₹ 10,000. Accounts are closed on 31st December every year. You are required to find out the rate of depreciation and give journal entries for first two years.


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


An asset is purchased for ₹ 50,000. The rate of depreciation is 15% p.a. Calculate the annual depreciation for the first two years under the diminishing balance method.


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.


On 1st January 2017 ‘Sai Industries, Nagpur’ purchased a Machine costing ₹ 1,65,000 and spent ₹ 15,000 for its installation charges. The estimated life of the Machine is to be 10 years and the scrap value at the end of its life would be ₹ 30,000. On 1st October 2018, the entire Machine was sold for ₹ 1,50,000.
Show Machinery Account, Depreciation Account, for the years 2016-17, 2017-18, and 2018-19 assuming that the accounts are closed on 31st March every year.


Vishal Company, Dhule, purchased Machinery costing ₹ 60,000 on 1st April 2016. They purchased further Machinery on 1st October 2017, costing ₹ 30,000, and on 1st July 2018, costing ₹ 20,000. On 1st Jan 2019, one-third of the Machinery, which was purchased on 1st April 2016, became obsolete and it was sold for ₹ 18,000.
Assume that, company account closes on 31st March every year.
Show Machinery Account for the first three(3) years and pass journal entries for the Third year, after charging depreciation at 10% p.a. on Written Down Value Method.


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.


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.


The Annuity Method is most suitable when:


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


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