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Over charging of depreciation in previous year
If cost of asset is 120 Cr., useful life is 3 years, method of depreciation used is straight line method so, company must claim 40Cr as depreciation in each year But company has wrongly claimed depreciation of Rs.60Cr in first year then, what should be accounting treatment for subsequent years? what should be treatment for overly charged depreciation ?
Replies (1)
ba;ance 60 crores you allocate between remaining useful lives
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