Depreciation Issue

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2010 I have a assets of Furniture & fixtures for example 10,000/- and at the end of year (i.e 28 march)I found rs.1000/- as damaged furniture.
Do I show in balance sheet as 10% Depr. means (10000-1000=9000) or I have to show Rs. (10000- (10000-1000=9000*10%)900 = 9100)

Pls tell me that in this circumstance do I claim 100% depreciation on furniture & fixtures.

thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

12 November 2010 1. You can claim depreciation @10% on Rs. 10000/-.
2. If you sell the damaged furniture, on 29th March, credit the amount received to furniture a/c and claim depreciation on balance amount.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now