--%>
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 : Progressives The progressives were

    The progressives were fascinated in “making people better.” What types of things were they fascinated in changing and who were they aiming their changes at?

    		•
  • Q : Meaning of Bill and Hold What is the

    What is the meaning of Bill and Hold in Accounting? Briefly describe it.

    		•
  • Q : Political events affecting the local

    Discuss about the different ways in which the political events in the host country affects the local operations of MNC.

    		•
  • Q : APV capital budgeting framework How APV

    How APV capital budgeting framework is useful for analyzing the foreign capital expenditures?

    		•
  • Q : Prepare adjusting journal entries The

    The following information for the month of December 20x6, with respect to cash activities, was gathered by Tressa Ltd.’s bookkeeper. Cash balance per books, December 1 $ 3,700

    Q : Case study of harvesting a tree

    Recently, a friend accused her neighbor of harvesting a tree (sapling of balsam fir, Abies balsamea) from her land without permission. Her neighbor claims that he bought it from a Christmas tree plantation (growing in a clearing down the road).  Your friend says

    		•
  • Q : Case study of Espresso Tax Seattle is

    Seattle is currently considering a 10-cent tax on espresso drinks to pay for pre-school and day-care programs. The legislation’s sponsor, Rep. Burbank, argues that people who spend $3-5 on exotic espresso based coffee drinks can afford – and will be &ldquo

    		•
  • Q : Sharpe performance measure concept

    Explain the Sharpe performance measure concept.

    		•
  • Q : International and financial management

    Explain, how international financial management is different from the domestic financial management?

    		•
  • Q : Case study of a hospitals Radiology

    The typical mid-sized hospital trying to keep its head above water in the increasingly tight health care market. It has determined that a critical area for it in today’s market is customer service. Until eight or nine years ago, hospital’s had a reputation

    		•