depreciation rate for grinding machinery

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    2. A company depreciates its machinery at the rate of 10% per annum using the reducing balance method. A machine is sold on 30 June 20X7 for £900 which had originally been purchased for £5,000 on 1 January 20X4. No depreciation is to be provided for in the year of sale. (a) Show the provision for depreciation on machinery account for 20X4 to 20X7.

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    Rate Rate Nature of Assets Useful Life Depreciation Rate Chart as per Part "C" of Schedule II of The Companies Act 2013 (iv) 1 Towers 18 Years 5.28% 15.33%

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    Mungo & Shoddy The grinding of old woollen clothing has been carried out for many years in the West Riding of Yorkshire. From the late 18th century it was known as "rag wool" and was used as the filling for horse saddles, bedding and furniture.

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  • Schedule II of CA 2013 Government of India

    Schedule II (See section 123)USEFUL LIVES TO COMPUTE DEPRECIATION. PART A 1. Depreciation is the systematic allocation of the depreciable amount of an asset over

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    (A) the following goods, namely:- (i) all goods falling under Chapter 82, Chapter 84, Chapter 85, Chapter 90, heading No. 68.05 grinding wheels and the like, and parts thereof falling under heading 6804 of the First Schedule to the Excise Tariff Act;

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  • Income Tax (Machinery and Plant Depreciation Rates)

    Refrigerating machinery, i.e., compressors, condensers, ice tanks, coolers, conduits, moulds, coils, travellers, etc. 10% No allowance will be made in respect of lagging, belting, loose plant, utensils, etc., but in lieu thereof the cost of renewals and replacements will be allowed as a charge against revenue.

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