Depreciation as per co's act 2013
This query is : Open
01 October 2016
While preparing Balance Sheet as on 31.03.15 the position of one asset was as follows :
Depreciation @ 6.33% on S L M was provided on following fixed asset
Original Cost Rs.2,17,532/-
W D V as on 31.03.14 Rs. 97,790/-
Salvage Value Rs. 10,877/-
Life of Asset 8 years
Life used till 31.03.14 8.70 years
My question is what should be W D V for above asset as on 31.03.15 and what amt should be adjusted with retained earnings ?
Depreciation @ 6.33% on S L M was provided on following fixed asset
Original Cost Rs.2,17,532/-
W D V as on 31.03.14 Rs. 97,790/-
Salvage Value Rs. 10,877/-
Life of Asset 8 years
Life used till 31.03.14 8.70 years
My question is what should be W D V for above asset as on 31.03.15 and what amt should be adjusted with retained earnings ?
01 October 2016
d ea r
wdv for 31.03.2015 would be rs 10877.
and amount to be adjusted against retained earnings would be rs 86913
02 October 2016
Thanks for reply
What amount of depreciation will be available for above asset for F Y 2015-16 ?
What amount of depreciation will be available for above asset for F Y 2015-16 ?
Message likes :
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02 October 2016
for 2015 -16
no depreciation would be charged on this asset as already you have depreciated 95% of cost
02 October 2016
Thanks for reply
So this particular asset would be shown at Rs.10,877/- in the balance sheet till it is sold
So this particular asset would be shown at Rs.10,877/- in the balance sheet till it is sold
02 October 2016
yes
you are correct
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