Question Text
Question 1 :
Which accounting principles is followed in adopting policy of using WDV method of Depreciation year after year ?
Question 2 :
Machinery costing Rs. $20,00,000$ was purchased on 1.4.2012. The installation charges amounting Rs. $5,00,000$ were incurred. The depreciation at $10$% p.a on straight line method for the year ended 31st March, 2013 will be -
Question 7 :
Any reserve which is not apparent on the face of the balance sheet is known as _____________.
Question 11 :
The pattern of annual depreciation charge of an asset for the three years was Rs. $5000$, Rs. $4500$ and Rs. $4050$. Discuss the rate of depreciation charge.
Question 12 :
ABC Ltd, acquired a new Machine for Rs. $500,000$ on $1$st April $2010$ and spent Rs. $20,000$ on its installation and Rs. $5,000$ on transportation. The firm charges depreciation at $10\%$ on WDM method. The depreciation charges for 2010-11 will be ___________.
Question 13 :
If the annual depreciation charge on an asset for three years is Rs. $6000$, Rs. $5400$, Rs. $4860$. Discuss the method of depreciation followed by the company.
Question 14 :
A second hand car purchased for Rs. $200,000$ (excluding initial repair cost Rs. $50,000$) is sold for Rs. $100,000$ after $2$ years. If the car was sold at a loss of Rs. $60,000$, what is the rate and method of depreciation charged.
