--%>
Assignment Help - homework help

Claim depreciation

When an asset is purchased and the similar is not employed for the financial year, must the company charge the depreciation and the reason for the similar?

E

Expert

Verified

As per income tax law can’t claim depreciation however as per company action we can claim it. When assets are machinery and are ready to use however not used throughout period we can claim for depreciation since machinery is ready for use and company encompass certificate and bills for the installation of machinery.

   Related Questions in Financial Accounting

  • Q : Adjunct Account What do you mean by the

    What do you mean by the term Adjunct Account?

    		•
  • Q : Review the accounting cycle the

    Assignment: The purpose of this assignment is to review the accounting cycle--the procedures that businesses normally use to record transactions during the year and prepare financial statements at the end of the year.  The accounting cycle is discussed in Chapter 3 of your textbook. &nb

    		•
  • Q : Fundamental characteristics of

    State the fundamental characteristics of bureaucracies.

    		•
  • Q : Transaction and Economic exposure

    Define transaction exposure and explain how it is different from the economic exposure?

    		•
  • Q : Country and political risk What is

    What is country risk and how it is different from the political risk?

    		•
  • Q : What do you mean by the term Equity

    What do you mean by the term Equity. Briefly explain it.

    		•
  • Q : Matlab Applications in Communication

    Communication system is the discipline in engineering curriculum which is more of the conceptual rather than theoretical. Mainly student faces trouble in understanding the core concepts of this topic. We have team of highly competent and prac

    		•
  • Q : Balance Sheets & Income Statement

    Bio-Pure Food Company Gary Green has recently inherited some money and is interested in investing in a small company with some growth potential.  Last week he r

    		•
  • Q : Accouning Required parts are clearly

    Required parts are clearly describes at the end of the questions and additional resource contains the journal article related to question three.. Approx 2000 word assignment.. First Question is of not more than 1000 words to make memorandum and its example is given at end of assignment and require

    		•
  • Q : Matlab Applications in Digital Signal

    Digital signal processing appears like a nightmare for students as it is most difficult and tricky subject in engineering core curriculum. If you are getting troubles in digital signal processing assignment or related project, then move

    		•