Depreciation as per schedule ii
This query is : Resolved
26 June 2015
Sir,
I m unable to get the same residual value , if I use the formula of Schedule II.There is difference in That.I m getting issue for calculating day wise Depreciation..
i.e., If I purchase asset of rs. 1000 on 01.12.2014 having 3 years of life.Residual value is Rs.50 .What will be depreciation for 3 years.
Please guide me for Calculating depreciation , i we purchase asset in mid of year..
Thanks in anticipation.
I m unable to get the same residual value , if I use the formula of Schedule II.There is difference in That.I m getting issue for calculating day wise Depreciation..
i.e., If I purchase asset of rs. 1000 on 01.12.2014 having 3 years of life.Residual value is Rs.50 .What will be depreciation for 3 years.
Please guide me for Calculating depreciation , i we purchase asset in mid of year..
Thanks in anticipation.
27 June 2015
You have to depreciate Rs 950 over 3 year period leaving residual value Rs 50.
The calculation is
Depreciation=950/total No of days for 3 years*No. of days from dt. of purchase to end of the year(first year of use).
The calculation is
Depreciation=950/total No of days for 3 years*No. of days from dt. of purchase to end of the year(first year of use).
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