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Depriciation

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(Querist)
06 August 2015 if

WDV > Residual value

then as per the NEW Companies Act
the balance amount will transfer to retained earnings.

but we have only reserves and surplus then what is the treatment for the above problem
???
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 August 2015 If life expired, balance over retained earnings may be transferred to RESERVE & SURPLUS' ( generally includes retained earnings either -ve or + ve).

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