Dear Members,

I have just join a manufacturing company in Ethiopia. Here I looked last year's balance sheet which ended on 31-12-11.

I the Annexures of Calculation of Fixed Assets after deducting Depreciation, the Auditor's mentioned as following:

"FA are stated at cost less accumulated depreciation> Except for the Depreciation of building which is calculated on straight line method; Depreciation of all other assets is charged as per a % of net book value at the following rates per annum:

Buildings - 5%
Plant & Machine - 20%
Motor Vehicles - 20%
Furniture & Fixture - 20%
Office Equipments - 20%
Computes & Printers - 25%

The table of depreciation they provided is as follows:

Fixed Asset - Balance as on 01-01-11 - Addition - Balance as on 31-12-11

Building - 2747815 - 0 - 2747815
Plant & Machine - 9089227 - 1144233 - 10233460
Motor Vehicle - 2413230 - 0 - 2413230
Furniture - 148080 - 19067 - 167147
Office Equipment - 139640 - 236671 - 376310
Computers & Printers - 124272 - 159402 - 283674
-------------------------------------
TOTAL - 14677854 - 2652968 - 17330821
=====================================

The Depreciation provided as under:

Building - 227509 - 137391 - 364900
Plant & Machine - 2368767 - 1572939 - 3941706
Motor Vehicle - 675659 - 347514 - 1023173
Furniture - 37566 - 25916 - 63482
Office Equipment - 39940 - 67274 - 107214
Computers & Printers - 37897 - 61444 - 99341


-------------------------------------
TOTAL - 3387337 - 2212478 - 5599815
=====================================

NET BOOK VALUE - 11290516 - 0 - 11731006

Can you please suggest how this depreciation was calculated.

Thank you

Ajay Singh

RESPECTED ALL,

I HAVE TO DO FINAL ACCOUNTS OF A SOCEITY REGISTERED UNDER RAJASTHAN SOCIETY ACT. A SCHOOL IS MANAGED BY THIS SOCIETY.

MY QUERY IS ACCOUNTS OF SOCIETY AND SCHOOL ARE CONSOLIDATED OR SEPARTELY. PLZ GUIDE ME .

TDS entry ka exmp.


pls step by step


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