How to zero value asset capitalised received from branch
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2017
Pl explain with accounting entry,how to Zero value asset capitalised received from one branch.w
14 February 2017
Initial recognition of asset should be at cost. Since the cost is Zero recognise the asset at a value of Rupee 1.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2017
Thanks & what about depriciation
20 February 2017
Depreciation is the systematic allocation of the depreciable amount (cost less residual value) of an asset over its useful life (IAS 16 Para 6 definitions) In this case we don't have a cost to allocate over assets useful life in this case so no charge is made to P&L as depreciation expenses.
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