Schedule 2
This query is : Resolved
06 June 2015
cost of assets Rs.8223/-
remaining life of assets is nil as per schedule 2 of companies act 2013.
WDV as at 31/03/2014 is Rs.121/-
what is the treatment of above in books
remaining life of assets is nil as per schedule 2 of companies act 2013.
WDV as at 31/03/2014 is Rs.121/-
what is the treatment of above in books
14 June 2015
No treatment is required in the given case since the asset is already depreciated upto a residual value which is less than the scrap value. So no entry or adjustment is required. Keep the residual value of Rs 121 in books till asset is sold or discarded.
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