Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2011
Dear Sir/Madam
On 1.1.2005, a machine costing Rs.10,000 and a piece of furniture costing Rs.20,000 was purchased. Depreciation is provided @ 5% on furniture and 10% per annum on machine. The depreciation for the year ended 31st March, 2005 should be:
(a) Rs.1,000.
(b) Rs.300
(c) Rs.1,250
(d) None of the three.
ANS: Rs. 1,250
Please tell how to calculate
On 1.1.2005, a machine costing Rs.10,000 and a piece of furniture costing Rs.20,000 was purchased. Depreciation is provided @ 5% on furniture and 10% per annum on machine. The depreciation for the year ended 31st March, 2005 should be:
(a) Rs.1,000.
(b) Rs.300
(c) Rs.1,250
(d) None of the three.
ANS: Rs. 1,250
Please tell how to calculate
20 February 2011
Answer is wrong.
In Accounts Depreciation is calculated on day basis.
On Machinery---
(10000*10%)*90/365= Rs 247
On Furniture---
(20000*5%)*90/365= Rs 247
90Days--(31 Jan, 28 Feb,31 March)
In Accounts Depreciation is calculated on day basis.
On Machinery---
(10000*10%)*90/365= Rs 247
On Furniture---
(20000*5%)*90/365= Rs 247
90Days--(31 Jan, 28 Feb,31 March)
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