accounting for fixed assets
This query is : Resolved
16 September 2010
We are going to capitalized new SF cooler in Oct 2010 with 105 Lacs
The old SH cooler, which actually dismantled and new cooler project in progress
what should be the Accounting Treatment for the above :
1) Whether we have to de-capitalized it today itself because it is nowhere in existence or we have to wait for new cooler capitalization.
2) Scrap value may or may not exceeds the WDV.
3) Whether we can transfer the WDV in books to Obsolence and scrap value can be shown separately.
Or we have to net off the scrap value with the WDV.
4) New cooler will cost to Rs.100 Lacs
please give reply in details
The old SH cooler, which actually dismantled and new cooler project in progress
what should be the Accounting Treatment for the above :
1) Whether we have to de-capitalized it today itself because it is nowhere in existence or we have to wait for new cooler capitalization.
2) Scrap value may or may not exceeds the WDV.
3) Whether we can transfer the WDV in books to Obsolence and scrap value can be shown separately.
Or we have to net off the scrap value with the WDV.
4) New cooler will cost to Rs.100 Lacs
please give reply in details
16 September 2010
When you will sell the old cooler than charged its dep. for the current year & transfer the balance after deducting total Dep. throuout the life of the Old Cooler to profit or loss A/c.
When the new cooler start functioning than capitlise it.
When the new cooler start functioning than capitlise it.
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