How to calculate profit and loss in depreciation by diminishing method?

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How to calculate profit & loss in depreciation by diminishing method?

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How to calculate profit and loss in depreciation by diminishing balance method?

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Calculate goodwill of a firm on the basis of two year's purchase of the average profit of the last four years. The profits of the last four were as follows: (4) Year ending on 31st March, 2020 Rs.50,000 (Profit) Year ending on 31st March, 2021 Rs.1 ,20,000 (Profit) Year ending on 31st March, 2022 Rs.1 ,80,000 (Profit) Year ending on 31st March, 2023 Rs.70,000 (Loss) On 1stApril, 2022 a scooter costing Rs.50,000 was purchased and debited to travelling expenses account, on which depreciation is to be charged @ 20% p.a. by Straight Line Method. The firm also paid an annual insurance premium of Rs.5,000 which already been charged to Profit and Loss Account for all the years.?

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Q.16. XYZ & Company, Jalgaon purchased a Building for 8,00,000 on 1st July 2007 On 1st April 2008 an extension was made to the above Building by spending 4,00,000. On 1st October 2009, half of the building was sol for 5,60,000 and brokerage at 2% of the selling price was paid. Depreciation is charged every year @ 10% p.a. under Diminishing Balance Method. 31 March Prepare Building Account and Depreciation Account for 2007-08, 2008-09 and 2009-10.?

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A company purchased a machinery for 50000 on 1st October 2016 . Another machinery costing 10000 was purchase on 1st December, 2017. On 31st March, 2019, the machinery was purchase in 2016 was sold at loss of 5000. The company charges depreciation at the rate of 15% p.a. on diminishing balance method. Accounts are closed on 31st March every year( prepare machinery account for 3 years)?

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Anu 1 January 2009 our machinery purchased rupees 3 lakh it was sold on on 1 June 2012 for rupees 220000 on and and deamination balance machinery depreciation charge at 7% annum calculate profit or loss sale of machinery?

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How to calculate profit & loss in depreciation by diminishing method? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about How to calculate profit & loss in depreciation by diminishing method? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How to calculate profit & loss in depreciation by diminishing method?.

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