Depreciation

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TATA REDDY KARRI (Querist)
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06 July 2015 if the asset LIFE is over then

1. wdv > residual value ?

2. wdv < Residual Value ?

what is the correct meaning of
"OPENING BALANCE OF RETAINED EARNINGS"..

TATA REDDY 4M KAKINADA

Ankur Singhal

Ankur Singhal (Expert)
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06 July 2015 In case 1
WDV- Residual value will be transferred to opening balance of retained earnings.

In case 2
no amount will be transferred

Dear
Retained earnings (accumulated profits or general reserves)appear under head Reserves & surplus in balance sheet.

If u do not have any opening balance in reserves & surplus then the amount will appear as debit balance under reserves & surplus

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TATA REDDY KARRI

TATA REDDY KARRI (Querist)
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07 July 2015 THANK YOU SIR
VERY USEFUL INFORMATION..