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11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 3 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 3 Mark Questions with Solution Part - I

11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 3 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15

  1. State the advantages and limitations of straight line method of depreciation.

  2. Distinguish between straight line method and written down value method of providing depreciation.

  3. Calculate the rate of depreciation under straight line method.
    Purchase price of a machine Rs. 80,000
    Expenses to be capitalised Rs. 20,000
    Estimated residual value Rs. 4,000
    Expected useful life 4 years

  4. A firm purchased a plant on 1.1.2018 for Rs.9,000 and spent Rs.1,000 as erection charges. Calculate the amount of depreciation for the year 2018 @ 15% per annum under the written down value method. Accounts are closed on 31st March every year.

  5. On 1st April 2015, Kumar purchased a machine for Rs.80,000 and spent Rs.20,000 on its installation. The residual value at the end of its expected useful life of 8 years is estimated at Rs.4,000. On 30th September 2017, the machine is sold for Rs.50,000. Depreciation is to be provided according to straight line method. Prepare Machinery Account. Accounts are closed on 31st December every year.

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