Depreciation
This query is : Open
shiek dawood
(Querist)
28 June 2013
in the following problem calculate depreciation as per companies act,
opening balance of motor cycle - Rs.40775.92/-
on october-15, 2012 new motor cycle purchases Rs.59682/-
an accident was occured on 30-09-2012. it was sold on november-28 for Rs.19000. (old motor cylce was accidented not new motor cycle)
Rs.22000/- was received as accidental compensation on december-14,2012.
in the above situation how to calculate the depreciation as per companies act.
please give solution
OLD MOTOR CYCLE HAS BEEN ACCIDENTED.
opening balance of motor cycle - Rs.40775.92/-
on october-15, 2012 new motor cycle purchases Rs.59682/-
an accident was occured on 30-09-2012. it was sold on november-28 for Rs.19000. (old motor cylce was accidented not new motor cycle)
Rs.22000/- was received as accidental compensation on december-14,2012.
in the above situation how to calculate the depreciation as per companies act.
please give solution
OLD MOTOR CYCLE HAS BEEN ACCIDENTED.
Anil Sankar V
(Expert)
28 June 2013
it is concept of two separate motorcycles, there is no concept of block in companies act, so which bike had an accident
shiek dawood
(Querist)
02 July 2013
OLD MOTOR CYCLE HAS BEEN ACCIDENTED.
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