Hi All,
Could you please explain what is the accounting treament of fully depreciated asset which still use in business and how to show in balance sheet.
journal entry and how to disclose in books of accounts?
Thanks
Sanjeev Kumar
Menu
Treatment of fully depriciated asset
Replies (1)
On purchase of asset
Asset a/c Dr xxxx
To Bank xxxx
On depreciate the asset (100% based on materiality concept)
Depreciation a/c Dr xxxx
To assets a/c xxxx
Recent Threads
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
Related Threads
CAclubindia
