Depreciation on gross block
This query is : Resolved
01 September 2013
hi
Does providing depreciation on gross block of asset of private co. amount to slm method??
if no, then plz explain
Does providing depreciation on gross block of asset of private co. amount to slm method??
if no, then plz explain
02 September 2013
The ans is no. In SLM method seperate provision for dep is maintained.
02 September 2013
suppose gross block as on 1/4/2009 is rs 100 ,depreciation rate is say 10%
depreciation charged =rs 10 therefore net block as on 31/3/2010 is rs 90 and gross block =rs 100
thus in next year gross block remains same (assuming no addition or deduction is made)
hence depreciation will again rs 10..this is like slm method
depreciation charged =rs 10 therefore net block as on 31/3/2010 is rs 90 and gross block =rs 100
thus in next year gross block remains same (assuming no addition or deduction is made)
hence depreciation will again rs 10..this is like slm method
03 September 2013
Rs.10 will be charged to accumulated depreciation A/c and will be continued till SLM method is followed and what u said is correct.
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