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Treatment of salvage value
As per new companies Act ie Companies Act 2013, Depreciation calculated on useful life of assets. If computer purchased on 01.04.2012 its useful life is 3 Years, at the end of 31.3.2015 , oustanding balance = salvage value, what is the treatment of such salvage value.
Replies (1)
It would be adjusted with retained earning as provided by ScheduleIII.
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