Companies depreciation as per 2013
This query is : Resolved
12 September 2016
Hai ! I do have a query regarding companies depreciation,
Assume if a asset useful life is 3 years and depreciation on such was accumulated for 5 yrs, then what is the accounting for excess depreciation charged ( i.e; WDV is less than Residual value in current situation)??????
Assume if a asset useful life is 3 years and depreciation on such was accumulated for 5 yrs, then what is the accounting for excess depreciation charged ( i.e; WDV is less than Residual value in current situation)??????
12 September 2016
No treatment required for the excess depreciation charged. The wdv shall be kept as residual value of the asset.
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