CMA Sivapriya (-) (238 Points)
13 March 2016
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 13 March 2016
Ascertain the Carrying amount of the asset form the previous balance sheet (even though the records are lost, the balance sheet filed with RoC would be available with payment of nomial fees). On the Carrying amount of the Asset apply the Depreciation at the rate applicable to asset and arrive at the Book Value of the Asset sold, Determine the profit or loss on sale of such asset.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 13 March 2016
Bala Pullaiah B
(Salaried)
(179 Points)
Replied 14 March 2016
You would have shared the FA schedule with auditors. You can get the details from them on request.
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