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Provide depreciation on furniture rs 500 and on machinery 2000?
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Provide depreciation on furniture rs 500 and on machinery 2000?
Depreciation on Furniture:
Depreciation is a decrease in the value of an asset over time due to wear and tear, obsolescence, or other factors. In this case, the depreciation on furniture is Rs. 500.
- Depreciation amount: Rs. 500
- Depreciation method: Straight-line depreciation
- Estimated useful life of furniture: 5 years
- Calculation: Rs. 500 / 5 years = Rs. 100 per year
Depreciation on Machinery:
Similarly, depreciation on machinery is a decrease in the value of machinery over time. In this case, the depreciation on machinery is Rs. 2000.
- Depreciation amount: Rs. 2000
- Depreciation method: Straight-line depreciation
- Estimated useful life of machinery: 10 years
- Calculation: Rs. 2000 / 10 years = Rs. 200 per year
Depreciation is important for businesses to accurately reflect the decrease in value of their assets over time. It helps in proper financial reporting and decision-making. Make sure to consult with a financial professional or accountant for specific guidelines on depreciation for your business.
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Provide depreciation on furniture rs 500 and on machinery 2000?
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Provide depreciation on furniture rs 500 and on machinery 2000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Provide depreciation on furniture rs 500 and on machinery 2000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Provide depreciation on furniture rs 500 and on machinery 2000?.
Provide depreciation on furniture rs 500 and on machinery 2000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Provide depreciation on furniture rs 500 and on machinery 2000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Provide depreciation on furniture rs 500 and on machinery 2000?.
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