Basic query in accounting
This query is : Resolved
29 July 2013
Altd has an asset of Rs 1 lakh which it depreciates at 10% on SLM mtd. At end of 5th yr, it sells asset at Rs 60,000.
In the above context what shall be Depreciation amt?
Depreciation = 1,00,000 X 10% X 4 yrs
OR
1,00,000 X 10% X 5 yrs
In the above context what shall be Depreciation amt?
Depreciation = 1,00,000 X 10% X 4 yrs
OR
1,00,000 X 10% X 5 yrs
29 July 2013
it will be 100000* 10 % * 5 years as the asset has been sold at the END of 5th year
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