Machinery transfer entry efect in fixed assets sehdule
This query is : Resolved
10 August 2013
Can anybody solve my query about Machinery transfer.
Actually our co. has 15 branches in all over India. 5 machinery transfer from Gurgaon branch to Delhi branch.
what is the treatment in assets schedule.
and how to treat it in gross block and net block of assets schedule.
can i show it in Delhi branch as a addition or simply transfer all gross block and depreciation into the Delhi branch.
please send me the ans with an example.
Actually our co. has 15 branches in all over India. 5 machinery transfer from Gurgaon branch to Delhi branch.
what is the treatment in assets schedule.
and how to treat it in gross block and net block of assets schedule.
can i show it in Delhi branch as a addition or simply transfer all gross block and depreciation into the Delhi branch.
please send me the ans with an example.
11 August 2013
If you transfer Gross Block and Accumulated Depreciation to Delhi Branch the net effect in Delhi Branch's column will be the WDV of the Machinery. This is quite logical and accordingly you may do.
.
In case such transfer is taking place during the year then Pro-rata depreciation may be charges to both the branches ( in proportion to the No. of days in which the asset is being used by the respective branch)
.
.
In case such transfer is taking place during the year then Pro-rata depreciation may be charges to both the branches ( in proportion to the No. of days in which the asset is being used by the respective branch)
.
12 August 2013
Thanks Paras ji
Tell me on thing more.
for the purpose of machinery transfer Gurgaon to Delhi, 'F' form will applicable or not.??
Tell me on thing more.
for the purpose of machinery transfer Gurgaon to Delhi, 'F' form will applicable or not.??
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