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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
