A fixed asset was bought for ₹ 5,000. Its accumulated depreciation is ₹ 1,000 and rate of depreciation is 10%. What are the depreciation expenses for the current accounting period using reducing balance method?
A. ₹ 600
B. ₹ 2000
C. ₹ 500
D. ₹ 400
Answer:C
A fixed asset was bought for ₹ 5,000. Its accumulated depreciation is ₹ 1,000 and rate of depreciation is 10%. What are the depreciation expenses for the current accounting period using reducing balance method?
A. ₹ 600 B. ₹ 2000 C. ₹ 500 D. ₹ 400