Sale of plant and machinery
This query is : Resolved
22 April 2022
Dear Sir/Madam,
in our company machinery purchased for Rs.65,09,029/- on 19.12.2018. and sold for Rs.30,16,000/- on 14.02.2022. kindly help for passing profit/loss on sale of machinery entries. Also help me in calculating depreciation (WDV/SLM)
Regards,
V.L.Murthy
in our company machinery purchased for Rs.65,09,029/- on 19.12.2018. and sold for Rs.30,16,000/- on 14.02.2022. kindly help for passing profit/loss on sale of machinery entries. Also help me in calculating depreciation (WDV/SLM)
Regards,
V.L.Murthy
24 April 2022
Calculate 15% wdv depreciation.
For the first year calculate 50% depreciation in view of usage less than 182 days.
Reduce wdv value from the sale value to calculate profit or loss on sale.
For the first year calculate 50% depreciation in view of usage less than 182 days.
Reduce wdv value from the sale value to calculate profit or loss on sale.
28 April 2022
sir, Thank you very much.
28 April 2022
You are welcome.......
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