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Block of Assets Method

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2010 Under the block method, i had a block of tempos having written down value of Rs 5.34,712 comprising of Four Tempos (two of 1,28,605 and two of 1,38,751 ) as on 1st April 2008.
Now among the above four tempos, three wer sold during the year in the month of sept for a consideration of Rs 85,000 and loss booked on above sale was Rs 3,10,960.
What should be the written down value of Tempos as on 31st March 2009 and also amount of dep charged.
should sale consideration of Rs 85,000 be deducted from 5,34,712 and dep to be charged on balancing figure of 449712??????
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
23 August 2010 Block Value : 534712
Less: sales value : 85000
Balance Aount : 449712
Dep @ 15% : 67457
Closing Bal : 382255
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2010 so hw should i present it in my tally, coz my closing balance is jst 1 tempo of Rs 1,38,751?????



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Guest

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Guest (Expert)
23 August 2010 Transfer loss of the tempos sold to the account of tempo which is with you...

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