Question

On 1st Jan 2019 assets purchase at Rs 500000 and scrap value is Rs 100000 estimated life of assets is 10 year calculate amount of the Depreciation and rate of depreciation by straight line method​

Answer 1

According to straight line method, the amount of yearl -depreciation is calculated as follows:

Depreciation = (Cost of asset - Scrap value) / Estimated life   and,

Depreciation = Rs. ( 50000 - 10000 ) / 10

Depreciation = Rs. 4000

Depreciation rate = (Depreciation expense / Cost of asset) * 100

Depreciation rate = (Rs. 4000 / Rs. 50000 ) * 100

Depreciation rate = 8%

Answer 2

Answer:

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