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

Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board Chapter 2 Accounts of ‘Not for Profit’ Concerns Exercise - 2 [Pages 113 - 114]
Exercise - 2 | Q 1 | Page 113
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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