Multiple choice

Depreciation on loose tools of 20%, which is Rs. 2,000, will be shown in

  1. Contra voucher

  2. Payment voucher

  3. Journal voucher

  4. Receipt voucher

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It will be shown in journal voucher. In journal voucher, we show all transactions not concerned with cash; and charging of depreciation on loose tools of Rs. 2,000 is a transaction in which neither cash comes in nor cash goes out of the firm.