Interested to Buy Any Domain ? << Click Here >> for more details...
our company purchased a used Forklift car. it is 6 year old.
since it has reached its depreciated value, do i need to
take it as a Fixed Asset? or just book it as an expense ?
- 1 Answers
- 3887 Views
- I also Faced
- E-Mail Answers
Answer / dr. vaibhav saxena
since the company purchased the forklift car for use in the
business (and not as scrap for resale), the company should
capitalise the purchase cost along with any initial repairs
incurred to increase the useful life of the forklift car.
the annual depreciation (SLM or WDV) under schedule XIV of
the companies act should accordingly be charged based on
the remaining useful life of the asset
| Is This Answer Correct ? | 6 Yes | 0 No |
paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
0 Answers Real Group Of Companies,
Over or under provision of what is taken to profit and loss account as profit or loss at the time of termination or sale of Assets?
how to read balance sheet ? and at first which thing you see in balance sheet ?
What is the purpose of preparing a bank reconciliation and why is it necessary?
What is WCT ? Who will Resposible for deposit WCT Means TDS Deductor or Material supplier. Is TDs applicable on WCT. Who will responsible for deposit WCT. I Am New For this Field. Thanks in advance...
WHAT IS BANK RECONSILAION STATEMENT?
what is insurance ? how many types of insurance?
what is the difference between journal entry and journal voucher
Which is the adjustment which is not a part of Trial balance but a part of Balance sheet ?
what is difference between rebate and discount? generally in bill of exchange accounting
Provisioned for electricity for the previous month's bill Rs. 8000 (pass journal entry)
what is cost center & cost categories in tally
Audit 
