Depreciation Issue
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
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
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.
2. If you sell the damaged furniture, on 29th March, credit the amount received to furniture a/c and claim depreciation on balance amount.
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