Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2012
a block of asset consists only of 1 asset
that asset is sold on 1/4/20X1 and on 31/3/20X2 same kind of asset falling under the same block is purchased
will the block cease to exist during the year? or the block will continue?
that asset is sold on 1/4/20X1 and on 31/3/20X2 same kind of asset falling under the same block is purchased
will the block cease to exist during the year? or the block will continue?
18 May 2012
The block will continue to exist, since depreciation is calculated at the end of the year.
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