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On 1.1.2016, a machine costing Rs. 10, 000 and a piece of furniture costing Rs. 20,000 was purchased. Depreciation is provided @ 5% p.a. on furniture and 10% per annum on machine. The depreciation for the year ended 31st March, 2016 should be:
- a)Rs. 1,000
- b)Rs. 300
- c)Rs. 500
- d)None of the three
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
On 1.1.2016, a machine costing Rs. 10, 000 and a piece of furniture co...
To calculate the depreciation for the year ended 31st March, 2016, we need to consider the following:
1. The cost of the machine is Rs. 10,000 and the depreciation rate is 10% per annum.
2. The cost of the furniture is Rs. 20,000 and the depreciation rate is 5% per annum.
3. The period is from 1st January 2016 to 31st March 2016, which is 3 months (1/4 of a year).
Now, let's calculate the depreciation for each asset:
Depreciation for the machine:
- Annual depreciation = 10% of Rs. 10,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Depreciation for the furniture:
- Annual depreciation = 5% of Rs. 20,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Now, let's find the total depreciation for the year ended 31st March, 2016:
Total depreciation = Depreciation for the machine + Depreciation for the furniture
Total depreciation = Rs. 250 + Rs. 250 = Rs. 500
So, the correct answer is (c) Rs. 500.
1. The cost of the machine is Rs. 10,000 and the depreciation rate is 10% per annum.
2. The cost of the furniture is Rs. 20,000 and the depreciation rate is 5% per annum.
3. The period is from 1st January 2016 to 31st March 2016, which is 3 months (1/4 of a year).
Now, let's calculate the depreciation for each asset:
Depreciation for the machine:
- Annual depreciation = 10% of Rs. 10,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Depreciation for the furniture:
- Annual depreciation = 5% of Rs. 20,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Now, let's find the total depreciation for the year ended 31st March, 2016:
Total depreciation = Depreciation for the machine + Depreciation for the furniture
Total depreciation = Rs. 250 + Rs. 250 = Rs. 500
So, the correct answer is (c) Rs. 500.
Most Upvoted Answer
On 1.1.2016, a machine costing Rs. 10, 000 and a piece of furniture co...
10000 × 10% × 3/12 = 250
20000 × 5% × 3/12 = 250
250 + 250 = 500
20000 × 5% × 3/12 = 250
250 + 250 = 500
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Community Answer
On 1.1.2016, a machine costing Rs. 10, 000 and a piece of furniture co...
To calculate the depreciation for the year ended 31st March, 2016, we need to consider the following:
1. The cost of the machine is Rs. 10,000 and the depreciation rate is 10% per annum.
2. The cost of the furniture is Rs. 20,000 and the depreciation rate is 5% per annum.
3. The period is from 1st January 2016 to 31st March 2016, which is 3 months (1/4 of a year).
Now, let's calculate the depreciation for each asset:
Depreciation for the machine:
- Annual depreciation = 10% of Rs. 10,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Depreciation for the furniture:
- Annual depreciation = 5% of Rs. 20,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Now, let's find the total depreciation for the year ended 31st March, 2016:
Total depreciation = Depreciation for the machine + Depreciation for the furniture
Total depreciation = Rs. 250 + Rs. 250 = Rs. 500
So, the correct answer is (c) Rs. 500.
1. The cost of the machine is Rs. 10,000 and the depreciation rate is 10% per annum.
2. The cost of the furniture is Rs. 20,000 and the depreciation rate is 5% per annum.
3. The period is from 1st January 2016 to 31st March 2016, which is 3 months (1/4 of a year).
Now, let's calculate the depreciation for each asset:
Depreciation for the machine:
- Annual depreciation = 10% of Rs. 10,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Depreciation for the furniture:
- Annual depreciation = 5% of Rs. 20,000 = Rs. 1,000
- Depreciation for 3 months = (1,000 * 3) / 12 = Rs. 250
Now, let's find the total depreciation for the year ended 31st March, 2016:
Total depreciation = Depreciation for the machine + Depreciation for the furniture
Total depreciation = Rs. 250 + Rs. 250 = Rs. 500
So, the correct answer is (c) Rs. 500.
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On 1.1.2016, a machine costing Rs. 10, 000 and a piece of furniture costing Rs. 20,000 was purchased. Depreciation is provided @ 5% p.a. on furniture and 10% per annum on machine. The depreciation for the year ended 31st March, 2016 should be:a)Rs. 1,000b)Rs. 300c)Rs. 500d)None of the threeCorrect answer is option 'C'. Can you explain this answer?
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