Account M.C.Q (1 Marks)

A Ltd. purchased a machine on 1.1.2019 for ₹ 1,20,000. Installation expenses were ₹ 30,000. Residual value after 5 years ₹ 5,000. On 1.7.2019, expenses for repair were incurred to the extent of ₹ 2,000. Depreciation is provided @10% p.a. under written down value method. Total depreciation after 2nd year.

Ambuja Cement Ltd. purchased a machine on 1-1-2019 for ₹ 1,20,000. Installation expenses were ₹ 10,000. Its residual value after 10 year is ₹ 5,000. On 1-03-2019 expenses on its repairs were incurred to the extent of ₹ 2,000. Depreciation is provided under straight line method. Books are closed on 31st March every year. The amount of depreciation for the current year will be:

What will be the percentage of depreciation under SLM in the following case:Original Cost of Machine ₹ 1,50,000
Salvage value after 9 years ₹ 15,000
Repair charges in 2nd year ₹ 10,000

Which one of the following is not a feature of written down value rnethod of depreciation?

Depreciation is calculated from the date of ………..

Depreciation is provided on:

A machine was purchased on 1st April 2018 for ₹ 5,00,000 and on 1st October, 2018 a new machine is added for ₹ 2,00,000. Calculate the balance of machine account, if depreciation is charged at 20% p.a. on written down value method for the year ending March 31, 2019.

The W.D.V. of an asset after three years of depreciation on reducing balance method @ 15% p.a. is ₹ 49,130. What was its original value?

Amortisation refers to writing off ……….

The balance of machine on 31st March 2019 is ₹ 97,200. The machine was purchased on 1st April 2017. Depreciation is charged @ 10% p.a. by diminishing balance method. The cost price of the machine as on 1st April 2017 would be:

What is the amount of difference between the closing balances of two machines after two years is both machines were purchased on the same date with the same amount i.2., for ₹ 1,00,000? Machine I is depreciated by 20% p.a. on Straight Line Method and Machine II is depreciated by 20% p.a. on Diminishing Balance Method:

Original cost of an asset is ₹ 1,26,000; Salvage value is ₹ 6,000; Useful Life is 6 Years. The rate of depreciation under Straight Line Method will be:

In the books of D Ltd. the Machinery Account shows a debit balance of ₹ 60,000 as on April 1, 2018 and Provision for Depreciation A/c at ₹ 24,000. The machinery was sold on September 30, 2018 for ₹ 30,000. The company charges depreciation @ 20% p.a. on diminishing balance method. Profit/ Loss on sale of the machinery is:

Which of the following best describes the “Depreciation”?