Calculation of depreciation
This query is : Resolved
03 September 2014
Dear Expert
We are following WDV method for Depreciation. We have asset namely office furniture that we have purchased on 1-4-2012 and so far we have calculated depreciation as per WDV. As on 1-4-2014, the opening balance of the said asset is Rs. 35,000/-. Request you to advice how to calculate depreciation on the said asset from 1-4-2014 as per new company act , 2013 i.e. schedule-II.
Thanks in advance.
We are following WDV method for Depreciation. We have asset namely office furniture that we have purchased on 1-4-2012 and so far we have calculated depreciation as per WDV. As on 1-4-2014, the opening balance of the said asset is Rs. 35,000/-. Request you to advice how to calculate depreciation on the said asset from 1-4-2014 as per new company act , 2013 i.e. schedule-II.
Thanks in advance.
Vishnu Saboo
(Expert)
04 September 2014
as per new schedule you need to see
(A) remaining useful life.
now calculate
(B)depreciable value after residual value.
divide B with A, what amount comes from this is depreciation for the period.
(A) remaining useful life.
now calculate
(B)depreciable value after residual value.
divide B with A, what amount comes from this is depreciation for the period.
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