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. Which of the following events is not a transaction?
  2. Net Realisable Value of an asset means
  3. The short description of a transaction written at the end of a journal entry is known as _______________.
  4. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  5. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  6. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  7. Capital of the business is an example of external liability.
  8. E. & O.E.
  9. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  10. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  11. According to the Concept of Conservatism, an accountant should
  12. An expenditure intended to benefit the current period is revenue expenditure.
  13. Which of the following equation(s) is(are) true
  14. Any type of error affects the agreement of Trial Balance.
  15. Cash payments are recorded on the _______________ of the Cash Book.
  16. Cash is an example of
  17. Transfer to General Reserve is a charge against
  18. All events are transactions but all transactions are not events.
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  20. The basic unit of measurement of the accounting system is ______________.
  21. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  22. The life span of a company is dependent on the life span of the
  23. Copyright is an example of
  24. WDV stands for
  25. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  26. The aggregate of direct material, direct labour and direct expenses is known as
  27. Wages and Salaries is a charge against
  28. Depreciation cannot be provided in case of loss, in a financial year.
  29. The balance in the Cash Book represents net income.
  30. All indirect expenses are charged against