Depreciation on discount
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
22 August 2008
purchased a Fixed Asset on 01/08/2008 for Rs. 50000 and entry passed in books.Later got an advise for discount for Rs. 5000 on 31/08/2008.
Pls reply that for the period 01/08/2008 to 31/08/2008 on what value the depreciation will be chrged as per companies act i.e. on Rs. 50000 or Rs. 45000?
Pls reply that for the period 01/08/2008 to 31/08/2008 on what value the depreciation will be chrged as per companies act i.e. on Rs. 50000 or Rs. 45000?
22 August 2008
Rs.45000 ..
The Fixed Asset is To Be capitalized at net of Discounts only
The Fixed Asset is To Be capitalized at net of Discounts only
CA. GOPAL SONIKA
(Expert)
22 August 2008
On Rs.45000/-
CA MOHIT VAATS
(Expert)
22 August 2008
on Net Amount after Discount i.e. Rs.45000/-
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