Annual Charge Of Depreciation

Calculate Depreciation :

Calculate the Amount of annual Depreciation and Rate of Depreciation under Straight Line Method (SLM) from the following: Purchased a second-hand machine for Rs 96,000, spent Rs 24,000 on its cartage, repairs and installation, estimated useful life or machine 4 years. Estimated residual value Rs 72,000.

Basis Of Charging Depreciation