CBSE Questions for Class 10 Elements Of Book Keeping And Accountancy Depreciation Quiz 8 - MCQExams.com

ABC Ltd, acquired a new Machine for Rs. $$500,000$$ on $$1$$st April $$2010$$ and spent Rs. $$20,000$$ on its installation and Rs. $$5,000$$ on transportation. The firm charges depreciation at $$10\%$$ on WDM method. The depreciation charges for 2010-11 will be ___________.
  • Rs. $$50,000$$
  • Rs. $$52,500$$
  • Rs. $$47,250$$
  • Rs. $$47,650$$
A firm has a policy of charging depreciation on Plant and Machinery @20% under WDV method. Find the book value of the plant as on 31.03.09 if the same was purchased on 1.04.07 for Rs.50,000.
  • Rs.40,000
  • Rs.36,000
  • Rs.32,000
  • Rs.30,000
A machinery was purchased on $$1-1-2013$$. It was delivered on $$1-4-2013$$. The installation was completed on $$1-7-2013$$. The trail run was completed on $$30-9-2013$$ and was made available for use on $$1-10-2013$$. The actual utilization started from $$1-12-2013$$. The effective period for calculation of depreciation for $$2013$$ is __________.
  • $$10$$ months
  • $$9$$ months
  • $$1$$ months
  • $$3$$ months
On 1.1.06 Novel Industries pin-chased new office equipment for Rs. 150,000 with a working life of 10 years. The estimated scrap value at the end of 10 years is estimated to be Rs. 20,Find the depreciation for the 10th year under Straight-Line Method.
  • 15,000
  • 13,000
  • 12,000
  • 10,000
A firm acquired machinery on 1st July 2019 at a cost of Rs 45,000 and spent Rs 5,000 for its installation. The firm writes off depreciation at 10% per annum on the diminishing balance method. The books are closed on 31 st March every year. Depreciation for the year ended 31st March 2020 & 31st March 2021 will be Rs_______& Rs________.
  • $$3,750, 5,000$$
  • $$4625, 3,750$$
  • $$3,750, 4,625$$
  • $$5000, 3,750$$
Original Cost = Rs. 1,00,Life = 5 years. Expected salvage value = Rs. 2,000
Rate of depreciation p.a.as per straight line method is _______.
  • 20.0%
  • 19.8%
  • 19.6%
  • 19.4%
A firm owns a fleet of vehicles acquired at a total cost of Rs$$4,80,000$$. Accumulated depreciation up to the beginning of the current year is Rs$$2,12,400$$. Vehicles are depreciated at $$25\%$$ p.a using the reducing balance method. The written down value of the vehicles by the end of the current year would be:-
  • $$Rs.2,67,600$$
  • $$Rs.66,900$$
  • $$Rs.1,47,600$$
  • $$Rs.2,00,700$$
On the basis of the information given below answer the following question.
In the year 2014-15 C Ltd. purchased a new machine and made the following payments in relation to it:-
ParticularsRs
Cost as per supplier's list
Agreed discount
Delivery charged
Erection charges
Annual maintenance charges
Additional maintenance charges
Additional component to increase capacity of machine
Annual insurance premium
5,20,000
50,000
10,000
20,000
30,000
40,000
5,000
If depreciation is provided @ 10 %  p.a, SLM depreciation for 3rd year will be:-
  • Rs$$54,000$$
  • Rs$$54,5000$$
  • $$47,000$$
  • $$55,000$$
Hi-Fi Ltd. acquired machinery on 1st January 2012 at a cost of Rs 36,000 and spent Rs 4,000 for its installation. The firm writes off depreciation at 10 % P.A. on WDV basis. The books are closed on 31st December. 
Closing balance of machinery account for 1st & 2nd year will be Rs.____& Rs _____.
  • $$32,400, 29,160$$
  • $$36,000, 36,000$$
  • $$32,400, 36,000$$
  • $$36,000, 32,400$$
Y Ltd. purchased a machine on 1.1.2012 for Rs 12,Installation expenses were Rs 1,Residual value after 5 years RsDepreciation is provided under WDV. Depreciation rate is 20%. Depreciation for 3rd year = ?
  • $$1,664$$
  • $$1,536$$
  • $$1,600$$
  • None of the above
On the basis of the information given below answer the following question.
In the year 2014-15 C Ltd. purchased a new machine and made the following payments in relation to it:
ParticularsRs
Cost as per supplier's list
Agreed discount
Delivery charged
Erection charges
Annual maintenance charges
Additional maintenance charges
Additional component to increase capacity of machine
Annual insurance premium
5,20,000
50,000
10,000
20,000
30,000
40,000
5,000
If depreciation is provided @ 10 % p.a, WDV depreciation for 3rd year will be:-
  • Rs$$43,740$$
  • Rs$$44,145$$
  • Rs$$38,070$$
  • Rs$$44,550$$
On Sept 01,2012,CAS Travels Ltd. bought four Metador  van costing Rs. 2,40,000 each. The company expected to fetch a scrap value of 25% of the cost price of the vehicles after ten years. The vehicles were depreciated under the fixed installment method up to March 31,With effect from April 01, 2014, the company decided to introduce the diminishing balance method of depreciation @ 20% p.a. instead of the fixed installment method. The company sold one of the vans at Rs. 70,000 on March 31,The rate of depreciation charged up to March 31, 2014 was __________ .
  • 10.0%
  • 9.0%
  • 8.5%
  • 7.5%
On 1-4-2012 balance in plant account was Rs. 3,77,On 1-7-2012, purchased new machine for Rs.50,000 (installation expenses Rs.2,500). A sum of Rs. 30,000 was paid on the same date and balance Rs. 30,000 was paid on maycompany provides depreciation @15% p.a. on reducing balance method and close accounts on 31st March each year. Depreciation for the year ended 31-3-2013=?
  • Rs. 62,593
  • Rs. 64,562
  • Rs. 60,062
  • Rs. 61,543
K & Co. acquired machinery on $$1$$st July $$2011$$ at a cost of Rs$$45,000$$ and spent Rs$$5,000$$ for its installation. The firm writes off depreciation at $$10\%$$ p.a on the original cost every year. The books are closed on $$31st$$ March every year. Depreciation for the year ended $$31st$$ March $$2012$$ & $$31$$st March $$2013$$ will be Rs....... & Rs ..............
  • $$3,750 & 5,000$$
  • $$5,000 & 3,750$$
  • $$3,750 & 3,750$$
  • $$5,000 & 5,000$$
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Practice Class 10 Elements Of Book Keeping And Accountancy Quiz Questions and Answers