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Fully depreciated asset

This topic has 1 reply, 2 voices, and was last updated 5 years ago by mrjonbain.

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October 26, 2019 at 10:21 am #550856
stevenlino
Member
- Topics: 19
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Please what happens to a fully depreciated asset, even though it is still fit to be use in the company.
October 26, 2019 at 4:10 pm #550893
mrjonbain
Moderator
- Topics: 6
- Replies: 2462
It’s carrying value would be zero. However, in order to show true and fair view, revaluation would probably occur before this happens.
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