a company purchased a machine for 12L, added 3L as other cost and booked 15L as gross block. salvage value is 5%.
1. on what value will depreciable amount be calculated, i.e. 12L or 15L.
2. salvage value is calculated on which cost i.e. 12L or 15L
SFaiz (Engineer) (56 Points)
13 August 2021a company purchased a machine for 12L, added 3L as other cost and booked 15L as gross block. salvage value is 5%.
1. on what value will depreciable amount be calculated, i.e. 12L or 15L.
2. salvage value is calculated on which cost i.e. 12L or 15L
Deepak Kumar
(791 Points)
Replied 14 August 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 14 August 2021