Depreciation
This query is : Resolved
TATA REDDY KARRI
(Querist)
06 July 2015
if the asset LIFE is over then
1. wdv > residual value ?
2. wdv < Residual Value ?
what is the correct meaning of
"OPENING BALANCE OF RETAINED EARNINGS"..
TATA REDDY 4M KAKINADA
1. wdv > residual value ?
2. wdv < Residual Value ?
what is the correct meaning of
"OPENING BALANCE OF RETAINED EARNINGS"..
TATA REDDY 4M KAKINADA
Ankur Singhal
(Expert)
06 July 2015
In case 1
WDV- Residual value will be transferred to opening balance of retained earnings.
In case 2
no amount will be transferred
Dear
Retained earnings (accumulated profits or general reserves)appear under head Reserves & surplus in balance sheet.
If u do not have any opening balance in reserves & surplus then the amount will appear as debit balance under reserves & surplus
WDV- Residual value will be transferred to opening balance of retained earnings.
In case 2
no amount will be transferred
Dear
Retained earnings (accumulated profits or general reserves)appear under head Reserves & surplus in balance sheet.
If u do not have any opening balance in reserves & surplus then the amount will appear as debit balance under reserves & surplus
Message likes :
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TATA REDDY KARRI
(Querist)
07 July 2015
THANK YOU SIR
VERY USEFUL INFORMATION..
VERY USEFUL INFORMATION..
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