Question
A vehicle purchased for ₹8,00,000 has an estimated useful life of 5 years and a residual value of ₹1,00,000. Using the Straight-Line Method, the depreciation for the 2nd year will be:
More Depreciation Questions
- A company purchases machinery for ₹50 lakhs with a useful life of 10 years and salvage value of ₹5 lakhs. The company uses straight-line depreciation. Due ...
- A company purchased machinery on 1st April 2023 for ₹15,00,000. It charges depreciation @15% p.a. under the Diminishing Balance Method. The written-down va...
- Transaction is referred as which event in accounting?
- Machine cost ₹10L, useful life 5 years, scrap value ₹1L. Using sum-of-years-digits method, depreciation for year 2 = ?
- Company X acquired equipment costing ₹5,00,000 on 1-Jan-Year1; useful life 5 years, no residual. It capitalises borrowing costs of ₹30,000 related to the p...
- Which method of depreciation is NOT recognized by the Companies Act, 2013?
- XYZ Ltd. uses Written Down Value (WDV) method for depreciation. It acquires a machine for ₹10 lakhs, has a salvage value of ₹1 lakh and charges 20% depreci...
- A machine was purchased for ₹1,00,000. Depreciation is charged at 10% per annum under the Diminishing Balance Method. The book value of the machine at the ...
- If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
- NRV or net realizable value of inventory is the expected selling price or market value less....
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
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)