Impairment of assets
This query is : Resolved
Lavanya shree
(Querist)
26 September 2014
Suppose cost of asset is 100000/- and accumulated de preciation existing is 40000/-, salvage value is 5000/- and useful life remaining is 5 yrs.
Impaiment loss was calculated to be 25000/-. what are the entries, and the effect of the loss in accounts, what is the accounting treatment for acc. depn?
Impaiment loss was calculated to be 25000/-. what are the entries, and the effect of the loss in accounts, what is the accounting treatment for acc. depn?
Vishnu Saboo
(Expert)
27 September 2014
Written off asset value Dr
to Accumulated depreciation a/c
to Accumulated depreciation a/c
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