Please Help: Depreciation
Posted Date : 23-Sep-2015 , 03:45:53 pm | Posted By: Vinay Totla
Category :
Accounts | Answers :
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Comments :
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If the WDV of an asset is zero as on 1/4/2014 but there is still usefull life left for that asset as per new Depreciation rules, What is the action to be taken?? |
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| Posted By : Mustafa Ali |
23-Nov-2015, 05:32:36 |
| An asset that is fully depreciated and continues to be used in the business beyond its estimated life. There will be no depreciation expense recorded after the asset is fully depreciated. |
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| Posted By : Sagar Goyal |
27-Sep-2015, 02:45:05 |
| No action |
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| Posted By : Vaibhav Shree Agarwal |
25-Sep-2015, 01:20:26 |
| No action is required. If such asset is not sold and held by the company, Asset should be recorded in Fixed Asset Register as Nil and no depreciation will be charged. Also no amount with be transferred to Retained Earnings. |
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| Posted By : MANMENDER SINGH |
25-Sep-2015, 12:05:37 |
| no action required, same carrying value shall be taken in books as on 31.03.2014 |
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