Tag: depreciation accounting
Questions Related to depreciation accounting
A Ltd. acquired a machine on 1st January, 2010 at a cost of Rs. $14,000$ and spent Rs. $1,000$ on its installation. The firm writes off depreciation at $10$% p.a. of the original cost every year. The books are closed on 31st December every year. After 3 years machine sold for Rs. $9,000$. Profit/Loss on sale = ?
Loss on machine sold on 1.10.2002 in year 2002-2003 will be -
T Ltd. acquired a machine on 1st January, 2010 at a cost of Rs. $1,40,000$ and spent Rs. $10,000$ on its installation. The firm writes off depreciation at $15$% p.a on WDV. The books are closed on 31st December every year. After 3 years machine sold for Rs. $87,000$. Profit/Loss on sale = ?
S Ltd acquired a machine on 1st January, 2010 at a cost of Rs. $1,40,000$ and spent Rs. $10,000$ on its installation. The firm writes off depreciation at $15$% p.a on WDV. The books are closed on 31st December every year. After 3 years machine sold for Rs. $97,000$. Profit/Loss on sale = ?
V Ltd acquired machine on 1st July, 2010 at a cost of Rs. $15,000$. The firm writes off depreciation at $10$% pa.a on WDV. The books are closed on 31st March every year. On 30th June 2013 machine sold for Rs. $8,000$. Profit/Loss on sale = ?
C Ltd. acquired a machine on 1st January, 2010 at a cost of Rs. $14,000$ and spend Rs. $1,000$ on its installation. The firm writes off depreciation at $10$% p.a of the original cost every year. The books are closed on 31st December every year. On 31st May 2013 machine sold for Rs. $8,000$. Profit/Loss on sale = ?
In an enterprise some tools were purchased worth Rs.2000 and later after 5 months additional tools worth Rs.4000 were purchased. It was presumed that the value of the total tools at the end of the year will be Rs.2000. What will be the depreciable value?
A purchased an old computer costing $Rs. 10,000$ and incurred $Rs. 1,000$ on its repair and $Rs. 500$ on its packing. He sold the computer at $20$% margin on selling price. The sales value will be _________.
On the basis of following information answer the following question.
| The balance in accumulated depreciation account of a company at the beginning of year $2008 - 2009$ was Rs$2,00,000$ when the original cost of the assets amounted to Rs$10,00,000$. The company charges $10\%$ depreciation on a SLM basis for all assets including those which have been either purchased or sold during the year. One such asset costing Rs.$5,00,000$ which accumulated depreciation as at the beginning of the year of Rs$80,000$ was disposed off during the year. |
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Depreciation from the current year = ?
In the books of SZ Ltd. the machinery account shows a debit balance of Rs. 60,000 as on 1.4.2015. The machinery was sold on 30.9.2016 for 30,000. The company charges depreciation @ 20 % p.a on diminishing balance method. Profit/Loss on sale = ?