Provision for depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2009
Provision exceed the depreciation in this circumstace when that provision surplus amount transfer to p&l?
After this financial year OR
disposal of this asset
After this financial year OR
disposal of this asset
29 December 2009
Dear
Since at the time of making provision you debited to P/L A/c so in case of excess provision you should Reverse to P/L A/c only at the time of closing of Books of A/c
Since at the time of making provision you debited to P/L A/c so in case of excess provision you should Reverse to P/L A/c only at the time of closing of Books of A/c
30 December 2009
agree with Shahzadbhai. that you have to revert entry to that particular f.y.
30 December 2009
we need to reverse the excess provisin while closing the books for the particular FY
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