The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd year, on diminishing balance method, is

A. Rs.60,000

B. Rs.54,000

C. Rs.48,600

D. Rs.43,740

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  1. An expenditure intended to benefit the current period is revenue expenditure.
  2. Accrual concept implies accounting on cash basis.
  3. Depreciation cannot be provided in case of loss, in a financial year.
  4. Which of the following events is not a transaction?
  5. HUF stands for
  6. WDV stands for
  7. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  8. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  9. Business ventures, which are started for a predefined period, are known as _____________ventures
  10. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  11. All events are transactions but all transactions are not events.
  12. The short description of a transaction written at the end of a journal entry is known as _______________.
  13. Cash payments are recorded on the _______________ of the Cash Book.
  14. Copyright is an example of
  15. All credit sales are recorded in
  16. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  17. Depreciation is not charged on _______________.
  18. A part of the profit distributed to the shareholders is known as
  19. Trial Balance is prepared after the preparation of Profit and Loss Account.
  20. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  21. Cash is an example of
  22. The account which can never have a credit balance is
  23. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  24. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  25. Which of the following equation(s) is(are) true
  26. Fixed Assets are stated in the balance sheet at their market value.
  27. All indirect expenses are charged against
  28. Net Realisable Value of an asset means
  29. The balance in the Cash Book represents net income.
  30. An expense incurred to keep the machine in working condition is a capital expenditure.