If the estimated useful life of an asset is 10 years, the straight line depreciation rate would be:
0.01%
0.1 %
1%
10%
If the estimated useful life of an asset is 10 years, the straight line depreciation rate would be 10%.
If value of an asset is Rs 9,00,000, scrap value is Rs 1,25,000, estimated life is 10 years, then the cost of depreciation under straight-line method will be-
On January 1, 2011, an asset was acquired for Rs30,000. Its useful life was expected to be 10 years and the salvage value is expected to be Rs0. After four years of use, the company realized the asset would be useful for only three more years. (In other words, the total useful life of the asset will be seven years instead of the original 10 years.) The company uses the straight-line method of depreciation. The Depreciation Expense in each of the years 2015, 2016, and 2017 will be Rs___