a furniture purchased for rs 370000 on 15 april 2013. apply 10% depreciation by straight line method for four years
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Depreciation = 1,44,470
Explanation:
Given:
Purchase price of Furniture =3,70,000
Depreciation rate = 10%
Number of year = 4
Calculation:
Deprecation for first year: ( 15 April - 31 march)
= 3,70,000 x 10% x 350/365
= 33,470
Deprecation for second , third , four years: (3 years)
= 3,70,000 x 10% x 3
= 1,11,000
Depreciation For four years = 33,470 + 1,11,000
Depreciation = 1,44,470
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