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Question
10% p.a. Depreciation on Furniture ₹ 50,000 (for three months)
Sum
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Solution
10 % p.a. Depreciation on Furniture ₹ 50,000 (for three months)
Depreciation = Cost of Asset × Rate × Period
`= 50,000 xx 10/100 xx 3/12`
= ₹ 1250 Depr. for 3 months
Thus, Depreciation on furniture @10% on ₹ 50,000 for 3 months = ₹ 1250.
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Chapter 2: Accounts of ‘Not for Profit’ Concerns - Exercise 2.1 (Objective Type Questions) [Page 114]
