Calculation of dep. as co.act. 2013
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2015
if date of purchase of computer (which has useful life 3 yrs.) is 08/08/2005 amount rs. 7757, then whether depreciation will be charged as on 31/03/2015 as per co. act. 2013.
pls. provide me appropriate calculation as soon as possible.
it means balance amt.7369 will be deducted from retained earnings? as well as where residual value will be adjusted?
pls. provide me appropriate calculation as soon as possible.
it means balance amt.7369 will be deducted from retained earnings? as well as where residual value will be adjusted?
10 July 2015
Dear
As per companies act 2013 The useful life of your computer is nil.
So no depreciation will be charged.
Dear take the residual value (maximi=um 5% of original cost) & deduct it from the WDV i.e 7757/- the balance amount will be transferred to the opening balance of retained earnings
As per companies act 2013 The useful life of your computer is nil.
So no depreciation will be charged.
Dear take the residual value (maximi=um 5% of original cost) & deduct it from the WDV i.e 7757/- the balance amount will be transferred to the opening balance of retained earnings
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Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2015
it means balance amt.7369 will be deducted from retained earnings? as well as where residual value will be adjusted?
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