Calculate the rate of depreciation used for reducing balance method of depreciation with the help of given data.
Cost of the asset Rs. 200,000
Residual Value Rs. 80,000
Expected Life 4 years
Calculate amount of sales with the help of data given below:
Cost of sales = Rs. 5,000
Assets = Rs. 200,000
Closing stock = Rs. 7,000
Gross profit = Rs. 40,000
How the cost of goods sold of a manufacturing concern is data copied from vu solutions dot com different from the cost of goods sold of a trading concern?
Ahmad Limited acquires an asset costing Rs. 30,000. The company estimates its useful life for 5 years with a residual value of Rs. 5,000. The company charges depreciation using straight-line method. In second year, the company estimates its residual value Rs. 7,000 and remaining useful life of 3 years.
Compute the amount of depreciation charges for first and second year

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