Depreciation starts on a machine from the Date:

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Depreciation starts on a machine from the Date:

Options:

A . It is purchased.

B . It is put to use.

C . It is installed.

D . Any of the above.

Answer: Option B

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Question 1. In the books of D. Ltd. the machinery account shows a debit balance of Rs.60, 000 as on April 1st, 2003. The machinery w....will be the Profit or Loss on sale of machinery?

Question 2. An asset was purchased for Rs.25, 000 and was depreciated under Reducing Balance Method at the rate of 10% p.a. What is ....value of the asset at the end of three years?

Question 3. Original cost of an assets Rs.2, 50,000, scrap value Rs.10, 000. Depreciation for 2nd year @ 10% p.a. under W.D.V. meth....2nd year @ 10% p.a. under W.D.V. method will be: /4

Question 4. On 1st January, 2008, A Ltd. Purchased a machinery for Rs.50, 000 and spent Rs.3, 500 on its carriage and Rs.2, 500 on ....Depreciation for the year under straight line method will be:

Question 5. A Plant of Rs.3, 000 was sold for Rs.4, 200. Depreciation provision to date was Rs.400 and commission paid to selling ag....plant was Rs.100 Profit on sale of plant will be:

Question 6. 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....were used. What is the depreciation for the first year?

Question 7. 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 8. Lease for 5 year Rs.10, 000. Rate of interest 5% Reference to annuity table 0.230975. The depreciation per year is....

Question 9. 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 10. 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?

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