Question
Which of the following minerals recorded the highest
percentage increase in production in February 2024 compared to February 2023?Solution
Gold production increased by 86%, which is the highest percentage increase among the listed minerals.
A plant was purchased on 1st April 2021 for ₹5,00,000. Depreciation is charged at 15% p.a. under the WDV method. On 1st October 2023, the plant was so...
NRV or net realizable value of inventory is the expected selling price or market value less....
There are certain expenses that may be in the nature of revenue but their benefit may not be consumed in the year in which such expenditure has been inc...
Under the Written Down Value (WDV) method, depreciation is:
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...
A machine costing ₹8,00,000 has a salvage value of ₹80,000 after 10 years. The company follows Straight Line Method (SLM). During the 4th year, it s...
If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
A company buys a machine for ₹12,00,000 and expects to use it for 8 years with residual value ₹80,000. Under straight-line method, annual depreciati...
A machine costing ₹4,00,000 has a useful life of 5 years with scrap value ₹25,000. The company provides depreciation on WDV at 25% p.a. After 3 year...
Which accounting standard in India deals with depreciation accounting?
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