यदि मूल्यह्रास के लिए प्रावधान खाता (Provision for Depreciation Account) नहीं रखा जाता है, तो मूल्यह्रास की राशि दर्ज करने के लिए सही जर्नल प्रविष्टि (journal entry) क्या है?

On April 1, 2022, a bank purchased a server cluster for 1,20,00,000 (estimated life 4 years, residual value 20,00,000, using Straight Line Method). On April 1, 2024, due to technological obsolescence, the remaining useful life is revised to only 1 more year (ending March 31, 2025) and the residual value is estimated at 5,00,000. What is the correct depreciation charge for FY 2024-25?

Consider the following statements regarding the principles and practices of depreciation accounting: Statement I: The depreciable amount of an asset is its historical cost (or substituted amount) less its estimated residual value. Statement II: Depreciation for a period is recognized in the Profit and Loss account unless it is included in the carrying amount of another asset. Statement III: The useful life of an asset is defined solely by its physical durability, regardless of the entity's usage plans. Statement IV: Land and buildings are treated as separate assets, and land usually has an unlimited useful life and is not depreciated. Statement V: When the WDV method is used, the depreciation is calculated on the original cost every year. Which of the options correctly identifies the accurate statements?