A company bought machinery for Rs.25,000 and depreciation rate is 10% on SLM. In this case, account is debited with an amount of

Depreciation

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Machinery

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs. 2,500

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Rs.22,500

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct options are
A Depreciation
C Rs. 2,500
Depreciation = 10% * 25,000
= Rs.2,500
The correct entry would be:

Depreciation A/c Dr 2,500
To Asset A/c 2,500

Suggest Corrections

Similar questions

A company bought machinery for Rs. 25000 and depreciation rate is 10% on SLM. Which of the following is correct?

A company bought machinery for Rs. 10000 and depreciation rate is 10%. Provision for depreciation account is maintained. Which of the following is correct?

Q. N.Ltd. purchase machine for Rs. 4,75,000 on 1.1.2010 and spent Rs 25,000 on its installation. Rate of depreciation 10 % on SLM. Company charge depreciation on SLM up to year ended 31.12.2014. In year 2015 the company wants to change its method of depreciation from SLM to WDV w.e.f. from 1.1.2010. To effect the change in method machinery account will be:-

Q. N Ltd. purchase machine for Rs.

4, 75, 000

on 1.1.2010 and spent Rs.

25, 000

on its installation. Rate of depreciation

10

% on SLM. Company charge depreciation on SLM up to year ended 31.12.2014. In year 2015 the company wants to change its method of depreciation from SLM to WDV w.e.f from 1.1.2010. To effect the change in method machinery account will be -

A company bought machinery for Rs. 50000 and depreciation rate is 18%. Which account shall be credited?

Join BYJU'S Learning Program

A company bought machinery for Rs.25,000 and depreciation rate is 10% on SLM. In this case, account is debited with an amount of

The correct options are A Depreciation C Rs. 2,500Depreciation = 10% * 25,000 = Rs.2,500 The correct entry would be: Depreciation A/c Dr 2,500 To Asset A/c 2,500

The correct options are
A Depreciation
C Rs. 2,500
Depreciation = 10% * 25,000
= Rs.2,500
The correct entry would be:

Depreciation A/c Dr 2,500
To Asset A/c 2,500