Question ID : 795
valuation of inventories
A company revalued its Fixed assets from Rs 1,00,000,- to Rs 2,00,000,- if depreciation is calcuted on historical cost it will be 10,000,- and depreciation after revaluation would amount to 20,000,- now for the purpose of ventory valuation which amount is to be conred.
If depreciation of Rs 10000 is taken , it wont satisfy the defition of depreciation (i.e., as per AS 6 ). if it is taken otherwise(i.e.,Rs 20000) it wont satisy the defation of cost '
No answers yet. Be the first to answer!
Please login to post your answer.
