{"id":52387,"date":"2024-04-15T23:38:37","date_gmt":"2024-04-15T23:38:37","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=52387"},"modified":"2024-04-15T23:38:37","modified_gmt":"2024-04-15T23:38:37","slug":"a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/","title":{"rendered":"A machinery was purchased on 1st January 1999 and was depreciated at the rate of 10% on diminishing balance method. It was sold on 31st March 2001 when its value was Rs. 67,129 what was its value on 1st January 1999?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 90,000&#8243; option2=&#8221;Rs. 85,000&#8243; option3=&#8221;Rs. 82,000&#8243; option4=&#8221;None of the above&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is D. None of the above.<\/p>\n<p>The value of the machinery on 1st January 1999 cannot be determined from the information given. The question states that the machinery was depreciated at the rate of 10% on diminishing balance method, but it does not state the original cost of the machinery. Therefore, it is not possible to calculate the value of the machinery on 1st January 1999.<\/p>\n<p>The diminishing balance method is a method of depreciation in which the depreciation rate is applied to the book value of the asset, which is the original cost of the asset less any accumulated depreciation. In this case, the book value of the machinery on 1st January 1999 would be the original cost of the machinery less any depreciation that had been taken up to that date. However, the original cost of the machinery is not given, so it is not possible to calculate the book value of the machinery on 1st January 1999.<\/p>\n<p>Without knowing the original cost of the machinery, it is not possible to calculate the value of the machinery on 1st January 1999. Therefore, the correct answer is D. None of the above.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 90,000&#8243; option2=&#8221;Rs. 85,000&#8243; option3=&#8221;Rs. 82,000&#8243; option4=&#8221;None of the above&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-52387","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A machinery was purchased on 1st January 1999 and was depreciated at the rate of 10% on diminishing balance method. It was sold on 31st March 2001 when its value was Rs. 67,129 what was its value on 1st January 1999?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A machinery was purchased on 1st January 1999 and was depreciated at the rate of 10% on diminishing balance method. 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It was sold on 31st March 2001 when its value was Rs. 67,129 what was its value on 1st January 1999?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/","og_locale":"en_US","og_type":"article","og_title":"A machinery was purchased on 1st January 1999 and was depreciated at the rate of 10% on diminishing balance method. It was sold on 31st March 2001 when its value was Rs. 67,129 what was its value on 1st January 1999?","og_description":"[amp_mcq option1=&#8221;Rs. 90,000&#8243; option2=&#8221;Rs. 85,000&#8243; option3=&#8221;Rs. 82,000&#8243; option4=&#8221;None of the above&#8221; correct=&#8221;option4&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T23:38:37+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/","url":"https:\/\/exam.pscnotes.com\/mcq\/a-machinery-was-purchased-on-1st-january-1999-and-was-depreciated-at-the-rate-of-10-on-diminishing-balance-method-it-was-sold-on-31st-march-2001-when-its-value-was-rs-67129-what-was-its-value-on-1s\/","name":"A machinery was purchased on 1st January 1999 and was depreciated at the rate of 10% on diminishing balance method. 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