Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2010
Dear Sir/ Madum
Below query is most imp for me please solve the query
Que : Glass, cuutlery etc: Balance on 01.01.2004 is Rs. 28000. Glass, cutlery, etc purchased during the year Rs. 16000. Depreciation is to be charged on the above assets as follows - 1/5 of the thier values is to be written off in the year of purchase and 2/5th in ach f the next 2 year. of the stock of glass cutlery, etc as on 01.01.2004, 1/2 was one year old and 1/5 was 2 years old. purcahse are made on 1st january.
Depreciation for 3rd Year
Ans 24200
Closing balance in glass cutlery A/c
Ans.19800
please calculate the abouve questions ans
Below query is most imp for me please solve the query
Que : Glass, cuutlery etc: Balance on 01.01.2004 is Rs. 28000. Glass, cutlery, etc purchased during the year Rs. 16000. Depreciation is to be charged on the above assets as follows - 1/5 of the thier values is to be written off in the year of purchase and 2/5th in ach f the next 2 year. of the stock of glass cutlery, etc as on 01.01.2004, 1/2 was one year old and 1/5 was 2 years old. purcahse are made on 1st january.
Depreciation for 3rd Year
Ans 24200
Closing balance in glass cutlery A/c
Ans.19800
please calculate the abouve questions ans
06 September 2010
question needs to be corrected and the part to be corrected is
As on 1.1.2004 1/2 one year old and 1/5 was 2years old. what about remaining 3/10?
As on 1.1.2004 1/2 one year old and 1/5 was 2years old. what about remaining 3/10?
11 September 2010
Depreciation
Opening balance 28000
1/2 value 14000 7000
1/5 value 5600 5600 5600
Remaing value 8400 8400 8400
Current purchase 16000 3200
Total Deprecition 24200
Opening balance 28000
1/2 value 14000 7000
1/5 value 5600 5600 5600
Remaing value 8400 8400 8400
Current purchase 16000 3200
Total Deprecition 24200
11 September 2010
I cannot agree with CMA Ramesh.
The life of the asset is 3 years. So opening balance will include only assets of 2 year back and 1 year back only.By 3rd year end the value is zero. So bal. as on 1.1.04: Assets purchased in 2002 and 2003 only.
The life of the asset is 3 years. So opening balance will include only assets of 2 year back and 1 year back only.By 3rd year end the value is zero. So bal. as on 1.1.04: Assets purchased in 2002 and 2003 only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
