[Ans : Dep. : for Furniture Rs. 24,240; Plant : Rs. 37,380] rom the following particulars, prepare Machinery A/c for 3 years under S.L.M.: 3. From the following information, calculate the amount of depreciation for one year (Ans : Balance of Machinery A/e : Rs. 16,000] Financial Accounting 1144 Dep Price of the Machine : Rs. 36,000 Freight charges : Rs. 2,500 Installation charges : Rs. 1,500 Life of the Machine : 5 years 2. [Bharathiar, B.B.M. Nov. 19991 under straight line method : Cost Turn-in-Value Estimated life Rs. Rs. 1,46,400 3,05,600 960 6 years Furniture Plant 6,560 8 years 4 How will you show asset in the balance sheet as on Dec. 31, 2002 when (j) No depreciation method is adopted (ii) When provision for depreciation method is adoten Details are : Cost price of the asset = Rs. 24,000 Depreciation per year = Rs. 2,000 Purchase date of the asset = 1-1-1998 [Ans : Value of asset to be shown in B/s: (i) Rs. 14,000 (i.e., 16,000 – 2,000); (ii) Rs. 14,000 (i.e., 24,000 – 10,000)|I 5. A firm purchased a machine for Rs. 1,00,000 on 1-7-95. Depreciation is written off @10% on reducing balance method. The firm closes its books on 31st Dec. each year. Show the Machinery A/c upto 31-12-97. [Madras, BCA/B.Sc. April 2002] [Ans : Machinery A/c balance : Rs. 76,950] If an asset was purchased for Rs. 50,000 on 1-1-99, what would be its value afte- three years, if it was depreciated at 10% p.a. by (a) S.L.M. and (b) W.D.V. method [Ans : Value of asset : S.L.M. Rs. 35,000 ; W.D.V. method : Rs. 36,456 An asset is purchased for Rs. 1,00,000. The rate of depreciation is 10% p.a. Calcula the annual depreciation for the first two years under the diminishing balance meth
[Ans : Dep. : for Furniture Rs. 24,240; Plant : Rs. 37,380] rom the following particulars, prepare Machinery A/c for 3 years under S.L.M.: 3. From the following information, calculate the amount of depreciation for one year (Ans : Balance of Machinery A/e : Rs. 16,000] Financial Accounting 1144 Dep Price of the Machine : Rs. 36,000 Freight charges : Rs. 2,500 Installation charges : Rs. 1,500 Life of the Machine : 5 years 2. [Bharathiar, B.B.M. Nov. 19991 under straight line method : Cost Turn-in-Value Estimated life Rs. Rs. 1,46,400 3,05,600 960 6 years Furniture Plant 6,560 8 years 4 How will you show asset in the balance sheet as on Dec. 31, 2002 when (j) No depreciation method is adopted (ii) When provision for depreciation method is adoten Details are : Cost price of the asset = Rs. 24,000 Depreciation per year = Rs. 2,000 Purchase date of the asset = 1-1-1998 [Ans : Value of asset to be shown in B/s: (i) Rs. 14,000 (i.e., 16,000 – 2,000); (ii) Rs. 14,000 (i.e., 24,000 – 10,000)|I 5. A firm purchased a machine for Rs. 1,00,000 on 1-7-95. Depreciation is written off @10% on reducing balance method. The firm closes its books on 31st Dec. each year. Show the Machinery A/c upto 31-12-97. [Madras, BCA/B.Sc. April 2002] [Ans : Machinery A/c balance : Rs. 76,950] If an asset was purchased for Rs. 50,000 on 1-1-99, what would be its value afte- three years, if it was depreciated at 10% p.a. by (a) S.L.M. and (b) W.D.V. method [Ans : Value of asset : S.L.M. Rs. 35,000 ; W.D.V. method : Rs. 36,456 An asset is purchased for Rs. 1,00,000. The rate of depreciation is 10% p.a. Calcula the annual depreciation for the first two years under the diminishing balance meth
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
Related questions
Question
![3. From the following information, calculate the amount of depreciation for one year
rom the following particulars, prepare Machinery A/c for 3 years under S.L.M.:
(Ans : Balance of Machinery A/c : Rs. 16,000]
[Ans : Dep. : for Furniture Rs. 24,240; Plant : Rs. 37,380]
Financial Accounting
1144
Depre
Price of the Machine : Rs. 36,000
Freight charges : Rs. 2,500
Installation charges : Rs. 1,500
Life of the Machine : 5 years
2.
[Bharathiar, B.B.M. Nov. 19991
10.
under straight line method :
Cost
Turn-in-Value
Estimated life
Rs.
Rs.
Furniture
1,46,400
960
6 years
8 years
Plant
3,05,600
6,560
4. How will you show asset in the balance sheet as on Dec. 31, 2002 when (i No
depreciation method is adopted (ii) When provision for depreciation method is adonteds
Details are :
Cost price of the asset = Rs. 24,000
Depreciation per year = Rs. 2,000
Purchase date of the asset = 1-1-1998
[Ans : Value of asset to be shown in B/s:
(i) Rs. 14,000 (i.e., 16,000 – 2,000);
(ii) Rs. 14,000 (i.e., 24,000 – 10,000)]
5. A firm purchased a machine for Rs. 1,00,000 on 1-7-95. Depreciation is written off
@10% on reducing balance method. The firm closes its books on 31st Dec. each year.
Show the Machinery A/c upto 31-12-97.
[Madras, BCA/B.Sc. April 2002]
[Ans : Machinery A/c balance : Rs. 76,950]
6. If an asset was purchased for Rs. 50,000 on 1-1-99, what would be its value after
three years, if it was depreciated at 10% p.a. by (a) S.L.M. and (b) W.D.V. method.
[Ans : Value of asset : S.L.M. Rs. 35,000 ; W.D.V. method : Rs. 36,450
An asset is purchased for Rs. 1,00,000. The rate of depreciation is 10% p.a. Calculate
the annual depreciation for the first two years under the diminishing balance metho](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0449a8c6-b8d3-4e40-84f0-9898cf544aea%2Ff31e176c-4ed4-438b-8669-b71c368bf78b%2Fzv1o89d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. From the following information, calculate the amount of depreciation for one year
rom the following particulars, prepare Machinery A/c for 3 years under S.L.M.:
(Ans : Balance of Machinery A/c : Rs. 16,000]
[Ans : Dep. : for Furniture Rs. 24,240; Plant : Rs. 37,380]
Financial Accounting
1144
Depre
Price of the Machine : Rs. 36,000
Freight charges : Rs. 2,500
Installation charges : Rs. 1,500
Life of the Machine : 5 years
2.
[Bharathiar, B.B.M. Nov. 19991
10.
under straight line method :
Cost
Turn-in-Value
Estimated life
Rs.
Rs.
Furniture
1,46,400
960
6 years
8 years
Plant
3,05,600
6,560
4. How will you show asset in the balance sheet as on Dec. 31, 2002 when (i No
depreciation method is adopted (ii) When provision for depreciation method is adonteds
Details are :
Cost price of the asset = Rs. 24,000
Depreciation per year = Rs. 2,000
Purchase date of the asset = 1-1-1998
[Ans : Value of asset to be shown in B/s:
(i) Rs. 14,000 (i.e., 16,000 – 2,000);
(ii) Rs. 14,000 (i.e., 24,000 – 10,000)]
5. A firm purchased a machine for Rs. 1,00,000 on 1-7-95. Depreciation is written off
@10% on reducing balance method. The firm closes its books on 31st Dec. each year.
Show the Machinery A/c upto 31-12-97.
[Madras, BCA/B.Sc. April 2002]
[Ans : Machinery A/c balance : Rs. 76,950]
6. If an asset was purchased for Rs. 50,000 on 1-1-99, what would be its value after
three years, if it was depreciated at 10% p.a. by (a) S.L.M. and (b) W.D.V. method.
[Ans : Value of asset : S.L.M. Rs. 35,000 ; W.D.V. method : Rs. 36,450
An asset is purchased for Rs. 1,00,000. The rate of depreciation is 10% p.a. Calculate
the annual depreciation for the first two years under the diminishing balance metho
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College