Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost?

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Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost?

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B Limited has been charging depreciation on the straight line method. It charges a full year depreciation even if the machinery is utilized only for part of the year. An equipment which was purchased for Rs.3,50,000 now stands at Rs.2,97,500 after depreciating at the rate of 5% on a straight line basis. Now the company decides to change the method of depreciation with retrospective effect. The applicable reducing balance rate for this machinery would be 8% p.a. Assuming that before the effect of this change could be accounted, depreciation for the current year is already charged based on straight line method and is reflected in the depreciated value of Rs.2,97,500. If 8% depreciation was charged by the reducing balance method, WDV at the end of 2nd year is

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Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost?

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Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Under the diminishing balance method depreciation is changed on (A) cost of production (B)written down value (C)net profits (D) original cost?.

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