Question

The initial cost of an equipment is Rs. 10,000.00 and its scrap value after useful life is
zero. The annual rate of depreciation is 10%. Using diminishing value method, the
depreciation charge for the second year is​

Answer 1

Answer:

On 1st October, 2018, he sold the machine purchased on 1st April, 2017 for 4,000. It was decided that Depreciation @ 10% p.a. was to be written off every year under