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Former Member
Aug 31, 2009 at 07:06 AM

Last year acquisition - Current Year reverse



1. We have purchased one asset on 01.01.2009(FY 2008). Due to some reasons asset is returned to party on 01.04.2009(FY 2009).already we have run depreciation. Now we want to cancel the actual invoice amount and also depreciation as on 01.04.2009. What is the actual procedure?

2. We have purchased asset (100 Qty - each one 100/-) on 01.02.2009. But actual rate of the asset(as per invoice) is 80/-. Now we want adjust the amount in current year. How to solve the above issue.

Thanks in advance