Question

Qs.1 On 1st April 2019, merchant purchased furniture costing
Rs.55,000.Installation charges paid thereon Rs.5,00. It is estimated that its life
is 10 years at the end of which its scrap value will be Rs.5,000. Calculate the
amount of depreciation.
(2 marks​

Answer 1

Answer:

amount of depreciation = cost of assets+ installation charges - scrap value/ life of assets

= 55000+ 500 - 5000/ 10

= 50500 / 10

= 5050 rs ........

thanks for this