Depreciation as per company act
This query is : Resolved
06 June 2016
Respected Experts,
Please advise me how to resolve this problem :-
A company have purchased some old machines during the f.y. 2015-16 & company have collected original manufacturer invoices of these machines. For example if company purchase a machine on dated 10-02-2016 of Rs. 5,10,000/- but it was actually manufactured by 03-05-2014.
Which date should be considered to calculate depreciation as per company act?
Please guide me.
Please advise me how to resolve this problem :-
A company have purchased some old machines during the f.y. 2015-16 & company have collected original manufacturer invoices of these machines. For example if company purchase a machine on dated 10-02-2016 of Rs. 5,10,000/- but it was actually manufactured by 03-05-2014.
Which date should be considered to calculate depreciation as per company act?
Please guide me.
06 June 2016
Considering the manufacturer's invoice date calculate the remaining useful life as on 10/02/2016 and depreciate.
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