Chapter 2: Accounts of ‘Not for Profit’ Concerns.

Balbharati, Solutions, for, Book-keeping, and, Accountancy, 12th, Standard, Hsc, Maharashtra, State, Board, Chapter 2, Accounts of ‘Not for Profit’ Concerns, Full solution,

Calculate the following:

10 % p.a. Depreciation on Furniture ₹ 50,000 (for three months)

Solution
10 % p.a. Depreciation on Furniture ₹ 50,000 (for three months)

Depreciation = Cost of Asset × Rate × Period=50,000 × (10/100) × (3/12)= ₹ 1250

Depreciation for 3 months

Thus, Depreciation on furniture @10% on ₹ 50,000 for 3 months = ₹ 1250.

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