AS-10

Residual value is the scrap value at the end of life of asset. Carrying amount is the cost minus depreciation or permanent decline in value of the asset. It need not be at the end of life of asset

Shankari C

CA Inter

★ 12K+

06-Jan-23 10:13

residual value is cost - depreciation as on reporting period

Yogesh S

CA Final

★ 125

06-Jan-23 11:03

sry, type mistake, carrying amount is cost - depreciation as on reporting date

Yogesh S

CA Final

★ 125

06-Jan-23 11:04

Carrying amount is the book value. Residual value is the salvage (scrap) value at the end of the life of an asset.

Varshaa M

CA Final

★ 35K+

20-Jan-23 23:30