Depreciation
This query is : Resolved
18 April 2015
I have a query if any1 can help,suppose there is a Company which has purchased a machinery on 02.02.2015 but acc to T&C it was told to supplier that firstly that machine will pass through quality check only then payment will be released and that machinery was passed by quality check department on 16.04.2015 so i want to know whether depreciation on that machine will be charged from date of purchase or date when it was passed by quality department...???
18 April 2015
Depreciation has to be provided from the date of put to use. Unless the quality check is completed , asset is not put to use.
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