what is depriciation
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Answer / sushanta deb
Depreciation means decrease in the value of an asset due to wear and tear over the period of time.
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Answer / suman rawat
Depreciation means,Your Fix Assets Value Decrease, as per
Company Act & Income Tax Act, define a fix percentage (%) of
Depreciation for a Particular Assets.
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On 01-04-2006 Mr. Dhanpal started business with Rs.2,00,000 cash and opened a bank account with Rs.1,50,000. He purchased furniture for his business for Rs.25,000. Goods were bought from Deendayal for Rs.50,000 on credit. He sold goods for Rs.27,000 in cash and 30,000 on credit. He paid Rs. 2,500 for business expenses during April month. Rs. 10,000 was withdrawn for office purposes from the bank. Find out the closing balance of cash and bank.
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