03 November 2011
on 1-1-05 a machinne costing10000 and a piece of furniture costing20000was purchased depercition is provided 5% on funiture and10% pa on machinery deprecition for year ended 31-3-05 will be
04 November 2011
the rate of depreciation @ 5% on furniture and 10% on machinery are neither as per income tax nor as per companies act. however, using these rates.. .the depreciation for the year ended on 31-03-2005 shall be
on furniture: 20000*5/100 *3/12 = 250 on machinery: 10000*10/100 *3/12 = 250
Total depreciation (new furniture and machinery) = Rs.500.
CAclubindia
