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Adjustment and Depreciation
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Adjustment and Depreciation
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Adjustment and Depreciation
Under the diminishing balance method depreciation is calculated on_______
Original value
Written down value
Scrap value
Market value
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rikazzz
Comment
Adjustment and Depreciation
Under annuity method the amount of depreciation is found out from_______
log tables
Sinking fund tables
Annuity tables
Present value tables
Author:
rikazzz
Comment
Adjustment and Depreciation
Reducing installment method is also called _______
Straight line method
Written down value method
Annuity method
Depreciation fund method
Author:
rikazzz
Comment
Adjustment and Depreciation
A customer paid you $100,000 for some construction work. However, at the end of your accounting period only 1/4 of work was completed. What amount of income should be shown in income statement?
100000
50000
10000
25000
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rikazzz
Comment
Adjustment and Depreciation
Diminishing balance method is also called _______
Written down value method
Annuity method
Depreciation fund account
Fixed installment method
Author:
rikazzz
Comment
Adjustment and Depreciation
Which of the following is the correct formula for calculating depreciation using service hour’s method?
Depreciation = (Cost – Scrap value) /Total hours x Actual hours
Depreciation = (Cost – Accumulated depreciation) /Total hours x Actual hours
Depreciation = (Cost – Accumulated depreciation) /Total hours x Total hours
Depreciation = (Cost – Scrap value) / Actual hours x Total hours
Author:
rikazzz
Comment
Adjustment and Depreciation
Earned but not yet received income is treated as:
Asset
Liability
Loss
Capital
Author:
rikazzz
Comment
Adjustment and Depreciation
Original cost method of depreciation is also called _______
Diminishing balance method
Annuity method
Depreciation fund account
Fixed installment method
Author:
rikazzz
Comment
Adjustment and Depreciation
The difference between the book value at the beginning and at the end revaluation amount is _______
Depreciation
Appreciation
Reduction
Computation
Author:
rikazzz
Comment
Adjustment and Depreciation
Income tax authorities recognize this method _______
Straight line method
Written down value method
Annuity method
Depreciation fund method
Author:
rikazzz
Comment
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