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11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 2 Mark Questions with Solution Part - I Question Bank Software Jun-08 , 2021

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11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 2 Mark Questions with Solution Part - I

11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 2 Mark Questions with Solution Part - I

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10

    Part I

    5 x 2 = 10

  1. List out the various methods of depreciation.

  2. What is annuity method?

  3. A firm purchased a plant for Rs. 40,000. Erection charges amounted to Rs. 2,000. Effective life of the plant is 5 years. Calculate the amount of depreciation per year under straight line method

  4. Furniture was purchased for Rs. 60,000 on 1-7-2016. It is expected to last for 5 years. Estimated scrap at the end of five years is Rs. 4,000. Find out the rate of depreciation under straight line method.

  5. A boiler was purchased on 1st January 2015 from abroad for Rs. 10,000. Shipping and forwarding charges amounted to Rs. 2,000. Import duty Rs 7,000 and expenses of installation amounted to Rs. 1,000. Calculate depreciation for the first 3 years @ 10% p.a. on diminishing balance method assuming that the accounts are closed 31st December each year.

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