Block of Assets Method

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
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??????

23 August 2010 Block Value : 534712
Less: sales value : 85000
Balance Aount : 449712
Dep @ 15% : 67457
Closing Bal : 382255

Avatar

Querist : Anonymous

Profile Image
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?????

Profile Image

Guest

Profile Image

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


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details