The Depreciation Account is closed at the end of the year by transfer to the

Related MCQs

• Income and Expenditure account shows subscription at 2,50,000. Subscriptions accrued in the beginning of the year and at the end of the year were 25,000 and 37,500 respectively. The amount of subscriptions received appearing in re ceipts and payments account will be
• The original cost of the machine is 19,00,000; machine installation charges are 1,00,000; working life of the machine is 5 years and residual value is 40,000. If the depreciation is charged on Straight Line basis then 4th year’s depreciation will be:
• Original cost of a machine is 1,50,000, residual value 10,000, if depreciation is charged @ 105 per annum under WDV method then depreciation for 3rd year will be
• At the end of the year Bad Debts Recovered Account is
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?
• Profit and loss account is prepared for a period of one year by following the concept of
• In case of depreciable assets are revalued, the provision for depreciation is based on
• The amount of yearly depreciation under written down value method
• Which one of the following is an external cause for depreciation
• On which of the following asset, depreciation is charged on ‘Depletion method’