Depreciation — Practice Quiz
ICSE · Class 11 · Accountancy
Try a 4-question quiz on Depreciation for ICSE Class 11 Accountancy: tap an answer to check it and see why. 63 questions in the full chapter test.
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Quick Quiz: Depreciation
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A machine was bought on 1st April, 2012 for ₹55,000 including freight and installation. Its scrap value at the end of 10 years is ₹2,500. Under the Straight Line Method, what is the yearly depreciation?
A machine costs ₹1,34,000 and gives yearly depreciation of ₹24,120 under the Straight Line Method. What is the rate of depreciation per year?
A machine was bought on 1st April, 2009 for ₹1,19,000 and ₹15,000 was spent on its erection. Scrap value is ₹13,400 and commercial life is 5 years. Under the Straight Line Method, what is the annual depreciation?
A plant costing ₹35,000 has scrap value ₹5,000 and working life 10 years. An additional plant costing ₹20,000 with scrap value ₹2,000 is added on 1st April, 2010 and another costing ₹10,000 with scrap value ₹1,000 is added on 1st October, 2011. Under Straight Line Method, what is the total depreciation for the year 2011-12 on all three assets?
Sample Questions
A machine was bought for ₹50,000 on 1st January, 2010. A new machine costing ₹60,000 was bought on 1st October, 2012. Depreciation is 10% p.a. on Straight Line basis. What is the depreciation on the new machine for the year 2012-13?
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₹1,500
Yearly depreciation on the new machine = 10% of ₹60,000 = ₹6,000. It is used for 3 months in 2012-13, so depreciation = ₹6,000 × 3/12 = ₹1,500.
A machine costing ₹70,000 was bought on 1st April, 2012. It is depreciated at 10% p.a. on Straight Line basis. What was the book value on 31st March, 2014?
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₹56,000
Yearly depreciation = 10% of ₹70,000 = ₹7,000. For two years, total depreciation = ₹14,000. Book value = ₹70,000 − ₹14,000 = ₹56,000.
A machine costing ₹64,000 is depreciated at 10% p.a. on Straight Line basis. If it is sold on 1st July after 3 years, what is the depreciation for the 3 months from 1st April to 1st July in the fourth year?
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₹1,600
Yearly depreciation = 10% of ₹64,000 = ₹6,400. For 3 months, depreciation = ₹6,400 × 3/12 = ₹1,600.
A machine was bought for ₹1,00,000 on 1st April, 2011. Depreciation is 20% p.a. on Written Down Value. What is the book value after 2 years?
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₹64,000
Year 1 depreciation = 20% of ₹1,00,000 = ₹20,000, so value = ₹80,000. Year 2 depreciation = 20% of ₹80,000 = ₹16,000, so book value = ₹64,000.
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