Depreciation Accounting
| Description: Get Complete Study Material for Accountancy Depreciation, Accounting Process, Class XI Accounts, Class XII Accounts, CA Preparation, CPT Preparation, Accounting Process | |
| Number of Questions: 24 | |
| Created by: Shiva Nambiar | |
| Tags: Accountancy Depreciation Accounting Process Class XI Accounts Class XII Accounts CA Preparation CPT Preparation Depreciation Accounting |
The amount of depreciation is equal for all the years under
The amount of depreciation does not depend upon
The taxation authorities normally follow
Which of the following is not true about straight line method?
The amount of depreciation is equal for all the years under
The method where amount of depreciation is more in initial year and gradually goes on decreasing is
Which of the following assets never depreciates?
A machine costing Rs. 2,00,000 having scrap value of Rs. 50,000 after 5 years is to be depreciated under sum of digit method. The depreciation to be charged in the 2nd year will be
A machine costing Rs. 4,50,000 and having scrap value of 20% of cost after 5 years was purchased on 31 July, 2009. It is to be depreciated under straight line method. The depreciation to be charged for year ending 31 March, 2010 will be
A machine costing Rs. 9,60,000 was purchased on 15 July, 2009. It is to be depreciated at12.5% P.A. under diminishing balance method. The depreciation to be charged for year ending 31 March, 2010 will be
The method in which cost of asset as well as interest on capital is also considered as the basis of depreciation is
The method in which amount chargeable to depreciation along with interest received is invested every year is called
Any deficit from sinking fund to the value of machine is transferred to
A machine costing Rs. 6,60,000 was purchased on 1 April, 2009. It has estimated scrap value of Rs. 60,000. It is estimated that it will produce 60,000 units during its working life. It produced 4,800 units during the year ending 31 March, 2010. The depreciation to be charged for the year ending 31 March, 2010 will be
A machine costing Rs. 3,60,000 was purchased on 1 April, 2009. It has estimated scrap value of Rs. 30,000. It is estimated that it will be used for 30,000 hours during its working life. It worked for 10 hours a day for 300 days during the year. The depreciation to be charged for year ending 31 March, 2010 will be
The method used for depreciating mines, quarries etc. is
A machine was being depreciated at 10% as per straight line method. Now, the business decided to depreciate it at the same rate by diminishing balance method with retrospective date. The differences in the amount of depreciation will be
The assets should be recorded in the balance sheet at
If a machinery is purchased during the year but is not used at all, then it is
The amount of interest paid for the loan taken for the purchase of machinery before its installation is
A machine costing Rs. 10,00,000 was purchased on 1 July, 2008. It is to be depreciated @12.5% P.A. under diminishing balance method. The machine was sold on 31 March, 2010 for Rs. 7,00,000. Find out the profit or loss on sale of machine.
The value of a machine on 1 April, 2010 was Rs. 29,16,000. It was purchased on 1 April, 2007 and was being depreciated at 10% by diminishing balance method. Find its original cost.
A machine costing Rs. 10,00,000 was purchased on 1 April, 2008. It is to be depreciated at15% P.A. under straight line method. The machine was sold on 31 July, 2010 for Rs. 7,00,000. Find out the profit or loss on sale of machine.
The charging of depreciation in the books