Dear Experts,
We have a machine and its life time was 5 years, depreciated fully last year and the machine account closed. The machine is in good condition and like this it will go another 2-3 years...We are still using this machine regularly and benefiting from it… sometimes we pay maintenance expenses also for this machine…In this case do we need to make any type of adjustments / entries?
Thanks & Regards,
CAclubindia
