Business & Profession - URGENT

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 plz solve dis qustn as soon as possible relating to BP

Rltd. has a block of assets carrying 15%rate of depreciation, whose WDV on 01-04-2009 was Rs. 5lacs. It purchased another asset of the same block on 01-01-2010 for Rs.1,44,000 & put it to use immediately. Rltd. was amalgamated with Gltd. w.e.f 02-03-2010. Compute the depreciation allowable to Rltd. & Gltd. for the PY ended on 31-03-2010 assuming the assets were transferred to Gltd. at Rs.10lacs.  

Will the answer be same in case of succession of Rltd. by Gltd. instead of being amalgamated.

Replies (4)

Dear Shelly,

 

Please refer to the enclosed file.

 

Regards

 

Hitesh

Computation of Depreciation: W.D.V. as on 01.04.2009 – 5,00,000.00 Addition during the Year – 1,44,000.00 Total – 6,44,000.00 Depreciation – (15*5,00,000.00/100) + (7.5*1,44,000.00/100) = 75,000.00 + 10800 = 85,800.00 R Ltd. = 30*85,800.00/365 = 7052.00 G Ltd. = 335*85,800.00/365 = 78,748.00 ________________________________________ Regards, Abhishek K. Pandey

Abhishekh answer is correct....

hi abhisek

howz ur ans correct as Rltd. amalgamated on 2/3/10. so it used d asset 4m 1/4/09 to 1/3/10.

n u found d ans 4 amalgamation case or succession?


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