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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2015
Sir,
When WDV of Asset is less than Scrap Value As per new companies Act 2013's than what to do.
When WDV of Asset is less than Scrap Value As per new companies Act 2013's than what to do.
16 July 2015
If the asset has 'life', keep the WDV as the residual value and need not depreciate.
If the life of the asset is expired, either you may do as above or transfer the WDV to the 'reserves and surplus' account.
If the life of the asset is expired, either you may do as above or transfer the WDV to the 'reserves and surplus' account.
16 July 2015
Reinstate the WDV to the scrap value. The gain will shown in the Profit & Loss as income.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 July 2015
thanks sir....................
27 July 2015
You are welcome. You should use the thanks button to convey your thanks.
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