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Jun 07, 2011 at 07:19 AM

Asset retirement after depreciation run

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Hi,

I have one problum/doubt

i acquired the asst in January 1st, 2011 cost Rs.1000 at depreciation rate 10%

i performed the depreciation run till 5th period (May) (calculated Depreciation Rs. 41.66)

now i am trying to retire this asset in June 1st, 2011 at cost Rs. 900

after the transaction i find the entries like

Asset cost 1000

asset sale 900

loss 100

here my question is what about the calculated depreciation Rs. 41.66

please advice me

Thanks in Advance

Sreehari