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Why don't calculate the depreciation on Land & Devlopment.?
Explain.
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Answer Posted / atul
As per me when we calculate the depreciation on land its
depand on location of land because as per rule we have not
charge the depreciation on Land & building at that time
their is no change in land area but if our land area is
locate near of rever or sea and due to change in water
level of rever or sea then our land area goes down so that
time we will charge the depreciation on Land & Building.
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
