Depriciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2011
I have Purchased Invertar an amount of rs 10044 on dated 28.06.2009 .
I have Depreciate of assets as per Company Act every year. which are following
Year Depreciation Value
2009-10 1056.90
2010-11 1250.17
I have sold the invertar of rs 4000/- on 01.12.2012
Can any body tell me what is the adjustment of such assets
I have Depreciate of assets as per Company Act every year. which are following
Year Depreciation Value
2009-10 1056.90
2010-11 1250.17
I have sold the invertar of rs 4000/- on 01.12.2012
Can any body tell me what is the adjustment of such assets
27 December 2011
Step 1: Calculate depreciation for 244 days.
Step 2: Opening WDV less: depreciation as per step 1.
Step 3: Resultant value as per step 2 less sale price (Rs. 4,000/-) will be profit or loss on sale of asset.
Step 2: Opening WDV less: depreciation as per step 1.
Step 3: Resultant value as per step 2 less sale price (Rs. 4,000/-) will be profit or loss on sale of asset.
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