Question
A company purchased machinery for ₹50,00,000 on 1st April 2020. Installation cost was ₹5,00,000. Residual value ₹3,00,000, useful life 5 years. On 1st April 2022, fair value was assessed at ₹30,00,000. Depreciation is charged on straight-line basis. What is the carrying amount as of 31st March 2023 and revaluation surplus?
More Accounts Questions
- XYZ Ltd. incurred R&D expenses of ₹20 lakhs for developing a new product. The product has not yet reached the commercialisation stage. How should the amoun...
- The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:
- Which telecom operator consolidation occurred in the Indian telecom industry, leading to a reduced number of major players?
- What is the journal entry for purchasing Machinery from M/S Darjeeling?
- According to Companies Act 2013, what does OPC stand for?
- Agent should not deal on his own account without first obtaining the consent of the principal, otherwise the principal may—
- The BPM principle that states "Information technology is an essential enabler for BPM" is the:
- Which term refers to the specific rate of interest carried by a bond?
- The LN function in Ms Excel 2010 returns the ________.
- A company purchases machinery for ₹10 lakh. Estimated dismantling cost after 5 years is ₹1 lakh. The dismantling obligation is present as per contract. Wha...
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
