Question
A company acquires machinery on 1 April 2022 for
₹5,00,000. The asset has an estimated useful life of 5 years and no salvage value. The firm applies the Double Declining Balance (DDB) method for depreciation. Determine the depreciation expense for the second year of use.Solution
• DDB rate = (1 / Useful life) × 2 = (1/5) × 2 = 40%. • Year 1 depreciation = ₹5,00,000 × 40% = ₹2,00,000; Remaining value = ₹3,00,000. • Year 2 depreciation = ₹3,00,000 × 40% = ₹1,20,000.
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