Fixed accounting depreciation

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Chartered Accountant
70 Points Posted on 29 September 2016

Hi,

A company has purchased Factory of Rs. 80 Lacs by giving 3 Lacs as advance to seller and had done Registration with own money.

My Question is whether Depreciation will be charged for the assets,beacuse Dep will be around Rs.8 Lacs. which is more than advance amount paid.whether it is necessary to show it as Fixed Assets.

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On 29 September 2016 at 16:08 Report
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Student
552 Points Posted on 30 January 2020
3 lakh is only advance to the seller... So entire 8 lacs is noted as provisional depreciation in companies assets and provided in full after providing full depreciation. Please correct me if I am wrong..
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On 30 January 2020 at 18:37
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Student
552 Points Posted on 30 January 2020
3 lakh is only advance to the seller... So entire 8 lacs is noted as provisional depreciation in companies assets and provided in full after providing full depreciation. Please correct me if I am wrong..
Reply
On 30 January 2020 at 18:37
User Avatar

Student
552 Points Posted on 30 January 2020
3 lakh is only advance to the seller... So entire 8 lacs is noted as provisional depreciation in companies assets and provided in full after providing full depreciation. Please correct me if I am wrong..
Reply
On 30 January 2020 at 18:37

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