On 1st April, 2022 fixed assets were purchased by company at a cost of ₹ 3,40,000 and were installed at a cost of ₹ 10,000. Some new additional assets were installed on 1st July, 2022 at a cost of ₹ 50,000. The company a
CS Executive · Corporate and Management Accounting · PYQS · December 2024
On 1st April, 2022 fixed assets were purchased by company at a cost of ₹ 3,40,000 and were installed at a cost of ₹ 10,000. Some new additional assets were installed on 1st July, 2022 at a cost of ₹ 50,000. The company again installed some more assets on 1st January, 2024 at a cost of ₹ 1,00,000. The agreed rate of depreciation is 10% p.a. The company adopt diminishing balance method of depreciation. You are required to determine the amount of depreciation as on 31st March, 2024.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Fixed Assets
Related Questions in this Topic
- Read the following information: Particulars/Balance as on March 31, 2023 (₹) March 31, 2024 (₹) Machinery 5,...
- The date that award exercised satisfied conditions of agreement is called:
- (1) To determine Fair value. (2) To set out a single Ind AS framework for measuring fair value. (3) To require disclosur...
- The ratio that explains how efficiently companies use their assets to generate sales is ............
- Which of the following is not the method of valuation of goodwill?