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    t11 Ch-15 Depreciation

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    t11 Ch-15 Depreciation

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    t11 Ch-15 Depreciation

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    binchi621
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    © All Rights Reserved
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    XI ACCOUNTANCY
    Session 2024-25
    CHAPTER- 15
    DEPRECIATION
    Celebrating 18th Year!
    TEST NO: 11
    Objective type: 17 marks
    Time: 1 hour
    1. On 1st April, 2020, Ashoka Ltd. purchased Machinery costing Rs. 5,00,000 . On July 1,2023, the
    Machinery was sold for Rs. 2,00,000. Prepare Machinery account calculating depreciation @ 10% p.a.
    on Original Cost Method. Accounts are closed on 31st March each year. (4)

    2. On 1st April, 2019 a company purchased a plant for Rs.60,000. On 1st October in the same year, it
    purchased additional plant worth Rs.18,000 and spends Rs. 2,000 on its erection. On 1st October,
    2021 ,the plant purchased on 1st April 2019 having become obsolete, is sold off for Rs. 27,000. On 1st
    January 2023 fresh plant was purchased for Rs. 64,000 and on the same date the plant purchased on
    1st October ,2019 was sold for Rs.10,000.
    Depreciation is provided at 10% per annum on Original cost on 31st March every year.
    Show the plant Account upto 31st March 2023. (8)

    MCQ:-
    1. Depreciation in the value of assets is :
    (a) Permanent decrease (b) Temporary decrease (c) Seasonal decrease (d) None of these

    2. Depreciation is provided on:


    (a) Current Assets (b) Fictitious Assets (c) Fixed Assets (d) Intangible Assets

    3. Depreciation under xed instalment method is calculated :-


    (a) On the purchased price of the asset (b) On the closing balance of the cost
    (c) On each year’s opening balance of the asset
    (d) On the market price of the asset

    4. On purchase of an asset, account debited is :-


    (a) Purchases A/c (b) Assets A/c (c)Depreciation A/c (d) Goods A/c

    5. On sale of an Asset, account credited is :-


    (a) Asset A/c (b) Sale A/c (c) Goods A/c (d) Pro t & Loss A/c (5)
    fi
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