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Accounting Standard 6 Depreciation

This query is : Resolved 
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(Querist)
28 June 2008

Dear Sir,

With referce to above subject,ABC Company
purchased Machinery for Rs. 380000.00 & it's useful life is 12 Years & at the time of purchase Scrap Value is 20000.00. Company Charge Streightline Depreciation method.

After two years its scrap value is increase by 30000.00

I want know about Historical cost change or not

Advice me for same

Your immediate respose will highly appreicated


With best regards,


VILAS CHOUDHARI
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CA Anand Sarda

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CA Anand Sarda (Expert)
29 June 2008 after 2 years the value of the asset is shown as 300000. then at that time ur scrap will be increased by 30000 that means depreciation should be calculated on (300000-30000) for the remaining life of the asset that is 10 years.
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