Depreciation
This query is : Resolved
06 July 2015
if the asset LIFE is over then
1. wdv > residual value ?
2. wdv < Residual Value ?
what is the correct meaning of
"OPENING BALANCE OF RETAINED EARNINGS"..
TATA REDDY 4M KAKINADA
1. wdv > residual value ?
2. wdv < Residual Value ?
what is the correct meaning of
"OPENING BALANCE OF RETAINED EARNINGS"..
TATA REDDY 4M KAKINADA
06 July 2015
In case 1
WDV- Residual value will be transferred to opening balance of retained earnings.
In case 2
no amount will be transferred
Dear
Retained earnings (accumulated profits or general reserves)appear under head Reserves & surplus in balance sheet.
If u do not have any opening balance in reserves & surplus then the amount will appear as debit balance under reserves & surplus
WDV- Residual value will be transferred to opening balance of retained earnings.
In case 2
no amount will be transferred
Dear
Retained earnings (accumulated profits or general reserves)appear under head Reserves & surplus in balance sheet.
If u do not have any opening balance in reserves & surplus then the amount will appear as debit balance under reserves & surplus
Message likes :
1 times
07 July 2015
THANK YOU SIR
VERY USEFUL INFORMATION..
VERY USEFUL INFORMATION..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- GST Regis.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
