A purchased a mine for Rs.5, 00,000. Minerals in the mine were expected to be 10

Question

A purchased a mine for Rs.5, 00,000. Minerals in the mine were expected to be 10, 00,000 tones. In the first year, 1, 00,000 tones of minerals were used. What is the depreciation for the first year?

Options:

A . Rs.40,000

B . Rs.50,000

C . Rs.60,000

D . None of these

Answer: Option B

Submit Your Solution Below and Earn Points !

Next Question

Submit Solution

More Questions on This Topic :

Question 1. Original cost = Rs.1, 50,000, Estimated life = 5 years, Expected salvage value= Rs.3, 000. Rate of depreciation p.a. =?....Expected salvage value= Rs.3, 000. Rate of depreciation p.a. =?

Question 2. Lease for 5 year Rs.10, 000. Rate of interest 5% Reference to annuity table 0.230975. The depreciation per year is....

Question 3. Machinery cost Rs.40, 000. Scrap value Rs.10, 000. Life 5 years. Rate of interest 5%. Reference to sinking fund table 0.....sinking fund table 0.180975. The depreciation per year will be

Question 4. On 1st January, 2008 A Ltd. purchased a machinery of Rs.6, 000 and also purchased a second hand machinery as on 1st Ju....be the profit or loss on sale of both machinery?

Question 5. The cost of the asset purchased on 1st April, 2008 was Rs.24, 000. the depreciation was provided at 10% on Straight Lin....for Rs.18, 000. Which of the following statements is/are true?

Question 6. Machinery was purchased for Rs.50, 000 two years ago. The current book value of the machinery is Rs.36, 125. If the depr....written down value method, the rate of depreciation is :

Question 7. The written down value or an asset after three years of depreciation on the reducing balance method @ 10% p.a. is Rs.18,....is Rs.18, 225. Its original value must have been ________.

Question 8. A company purchased a new machine for Rs.500,000 and machine’s test run was started to make sure that machine works pr....production were Rs.2000. What is the total cost of machine?

Question 9. Depreciation available, if asset is used for less than 180 days during the year of acquisition shallbe of block rate:....

Question 10. If the Plant & Machinery is used for less than 180 days in the year of its acquisition, then, atwhat rate the deprec....depreciation on that asset should be provided under section 32?

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

GPOE / GPA Combined 1 Free Mock Test SAIL JO E-0 2024

ICA Combined 1 Free Revision Test SAIL JO E-0

RDIC Review Test SAIL JO E-0

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

RSP Combined 1 Free Revision Test SAIL JO E-0

Submit Solution

More Questions on This Topic :

Latest Videos

Latest Test Papers