CPT Account Chapter 5 Depreciation Accounting Online Test

&quot;On August 01, 2006, K Travels Ltd. bought four Matador vans costing Rs.1,20,000 each. The company expected to fetch a scrap value of 25% of the cost price of the vehicles after

ten years. The vehicles were depreciated under the fixed installment method up to March 31, 2009. The rate of depreciation charged up to March 31, 2009 was &quot;

Consider the following data pertaining to M/s. E Ltd. who constructed a cinema house: Cost of second hand furniture 90,000, Cost of repainting the furniture 10,000, Wages paid to employees for fixing the furniture 2,000, Fire insurance premium 1,000, The amount debited to furniture account is

In the books of D Ltd. the machinery account shows a debit balance of Rs.60,000 as on April 1, 2008.The machinery was sold on September 30, 2009 for Rs.30,000. The company charges depreciation @20% p.a. on diminishing balance method. Depreciation for 2008-09 =

Consider the following information: I. Rate of depreciation under the written down method = 20%. II. Original cost of the asset = Rs.1,00,000. III. Residual value of the asset at the end of useful life = Rs.40,960. Depreciation for 3rd year =

A new machine costing Rs.1 lakh was purchased by a company to manufacture a special product. Its useful life is estimated to be 5 years and scrap value at Rs.10,000. The production plan for the next 5 years using the above machine is as follows: Year 1 5,000 units Year 2 10,000 units Year 3 12,000 units Year 4 20,000 units Year 5 25,000 units. The depreciation expenditure for the 5th year under units-of-production method will be

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Cpt Account Chapter 5 Depreciation Accounting MCQ.....................................................................................................................................................................................................................................................................................

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