Cost of fixed asset minus accumulated depreciation expenses of the fixed asset:

Related MCQs

• Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
• From the following details calculate the net profit for the year ending 31.03.2013 Opening Stock ` 1,50,000; Purchase ` 2,50,000; Manufacturing Expenses ` 80,000; Selling Expenses ` 20,000; Administration Expenses ` 10,000; Financial Charges ` 5,000; Slaes ` 5,55,000 which includes damaged goods sold for ` 5,000 against the cost price of ` 12,000. Gross profit margin on normal sales is 20% on the sales
• Accumulated depreciation is an example of
• Annual depreciation of machine is 40000, cost of machine is 500000, rate of depreciation according to straight-line method will be
• Tick the correct match 1. Current Asset 1. Depreciation 2. Nominal A/c 2. Land 3. Non Depreciable Asset 3. Insurance A/c 4. Non Cash Expense 4. Prepaid Rent A/c
• If the asset is sold, the provision for depreciation relating to the asset sold is transferred to:
• Depreciation amount of a fixed asset represents —
• Under debtors system depreciation on fixed asset is:
• Under debtors system depreciation on fixed asset is________ _______
• In this method depreciation is charged on the cost of asset every year: