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?Solution
Cost = ₹55,00,000 Depreciation/year = (55 – 3)/5 = ₹10,40,000 2 years depreciation = ₹20,80,000 Carrying amount on 1-Apr-2022 = ₹34,20,000 Fair Value = ₹30,00,000 ⇒ downward revaluation Revaluation loss = ₹4,20,000 (to P&L or OCI as per AS-10) After 1 more year depreciation: Depreciation = (30 – 3)/3 = ₹9,00,000 Carrying amount = ₹21,00,000
From the following figures, find the odd one out:
Statements:
Some elephants are fishes.
No fish is a tiger.
All deer are tigers.
Conclusions:
I. Some elephants ar...
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A series is given with one term missing. Select the correct alternative from the given ones that will complete the series.
OP, ON, MN, ML, ?
If 10th May of a given year is Monday, what day of the week will be 11th July of the same year?
Which of the following words can be formed from the letters of the word?
DAYTIME
Five books labelled B, G, N, P and T are kept one above the other (not necessarily in the same order). Only one book is kept between N and G. B is just ...
From the given responses, find the missing letter in the series.
BBD, CDG, DFJ, EHM, __.
Which of the answer figures is the exact mirror image of the given problem figure when the mirror is held at the right side?
Problem figure:
...Select the number-pair in which the two numbers are related in the same way as the two numbers of the following number-pair.
6 : 85
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