Depreciation on building
This query is : Resolved
Rushikesh Kangle
(Querist)
12 June 2015
bank purchased building in Nov. 2014
-bank paid rs.60,000 to municipality for their name on PTR
-bank destroy building & reconstruction is going on from basement level
now the question is
1)what is the effect of charges paid to municipality?
2)is it necessary for bank to charge the depreciation on that charges as building on march 2015?
what is account entry & the effect...explain
Amol S Joglekar
(Expert)
12 June 2015
the amount of 60,000 be capitalised.
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