Scraped machinery

Accountancy

If a machinery is scraped just one day after purchasing it then is depreciation for 1 days charged or not ?

Atharv Sankliya

CA Final

★ 3K+

25-Oct-22 15:51

380

Answers (3)

Best Answer

If entity is using ERP, they may charge. It depends on materiality of the amounts involved.

CA Suraj Lakhotia

Admin

26-Oct-22 11:19

I thing no ... Usually dep is calculated @month basis also...

Balachandar S

CA Inter

★ 59K+

25-Oct-22 16:42

This is hypothetical. Never such a question will come in the exam. If you think logically depreciation should be done but what if rate of interest given is per annum ? So don't think much like this. Such a question will never come in the exam Ha Ha Ha

Ardhendu Sekhar Acharya

CMA Inter

★ 250

25-Oct-22 19:04