Depriciation as per new co act 2013
This query is : Resolved
13 June 2014
how to charge Depriciation as per new co act 2013 on existing assets
For example remaining carrying value of the asset is 50% of the original cost and the remaining useful life is zero as per Schedule II, then what will be treatment of the 50% remaining value? Should it be charged to reserves?
Regards
For example remaining carrying value of the asset is 50% of the original cost and the remaining useful life is zero as per Schedule II, then what will be treatment of the 50% remaining value? Should it be charged to reserves?
Regards
13 June 2014
cant understand what exactly u asking for....................
16 June 2014
yes, you have to charge off it to reserve, no more depreciation to be charged on same.
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