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Calculate the amount of depreciation for the first year

Calculation of amount of depreciation under SLM.

A machine was purchased for Rs 96,000. Expenses incurred on its cartage and installation Rs 24,000. The residual value at the end of its Expected Useful Life of 4 years is estimated at Rs 48,000. Calculate the amount of depreciation for the first year ending on Mar 31, 2009 if the machine was purchased on (i) Apr 1, 2008, (ii) July 1, 2008, (iii) Oct 1, 2008 and (iv) Jan 1, 2009.

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Financial Accounting: Calculate the amount of depreciation for the first year

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