Depreciation issue assets wdv is less then 50

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2017 Dear Experts,
in the block of 15% one asset WDV is 14 as on 1/4/2016 and in the block 60% one asset WDV is 24 as on 1/4/2016. pls tell me what should i do with these assets should i write these assets in debit side of profit & loss account by pssing following enties with its full value.... i.e.

Dep A/C Dr.... 14
To asset........14

Dep A/C Dr.....24
To asset........24

please clarify is it correct treatment or not..

Thanks
Ankita Bansal

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 May 2017 Please keep Re.1 as the value of the asset (till asset is existing) and treat the balance as depreciation.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2017 sir you mean we can write the balance in debit side of profit & loss account by Re. 13 and Re. 23 like.....

Dep A/C Dr.... 13
To Asset.......13

Dep A/C Dr.....23
To Asset......23

And Re. 1, Re.1 have to left till assets is existing,

Pls tell me is it correct.....