CA CPT Model Test Paper 3 with solutions for online practice
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Question : 48 of 200
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X Ltd. Acquired a lease right for 10 years of a mine on a lumpsum payment of Rs. 9,00,000 to the landlord .It was estimated by the expert that the coal deposit of the mine was 40,00,000 tonnes , 75% of which could be raised within time period allowed .X Ltd.decided to depreciated the lease on Depletion Method. The sales and stocks (in tonnes) were as under :
The depreciation for the year VI will be :
| Year | I | II | III | IV | V | VI |
| Sales | 30,000 | 62,000 | 1,96,000 | 4,02,000 | 4,02,000 | 3,98,000 |
| Closing Stock | 10,000 | 8,000 | 12,000 | 10,000 | 8,000 | 10,000 |
The depreciation for the year VI will be :
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