Companies act 2013 depreciation
This query is : Resolved
Riya Gupta
(Querist)
01 July 2015
when there is no useful lyf of asset we transfer the wdv of the asset as on 1/04/2014 in retained earnings...but if there is no retained in company then what will we the treatment
Ankur Singhal
(Expert)
01 July 2015
The wdv is transferred to the opening balance of the retained earnings.
If we do not have retained earnings then also wdv of such asset is to be transferred to the retained earnings as it is specifically given in schedule 2.
the retained earnings balance will become negative/debit.
If we do not have retained earnings then also wdv of such asset is to be transferred to the retained earnings as it is specifically given in schedule 2.
the retained earnings balance will become negative/debit.
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