ExamVeda
Login
Home

Original cost of an asset is Rs 57 000 scrap value...

This question belongs to Commerce Accounting
Accounting
?

Original cost of an asset is Rs. 57,000, scrap value Rs.2,000 and estimated life 10 years. What will be the amount of depreciation in the first year according to the sum of the year's digits methods:

Answer & Solution
Correct Answer: Option A
Let's discuss the solution. Join the discussion
Examveda
Question posted by Examveda
Community

Join the Discussion

No comments yet Be the first to discuss this question.
Keep Learning

Related Questions on Accounting

Accounting provides information on
A. Cost and income for managers B. Company's tax liability for a particular year C. Financial conditions of an institutions D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
Patents, Copyrights and Trademarks are
A. Current assets B. Fixed assets C. Intangible assets D. Investments
More Related Questions on Accounting