Reinstatement of fixed asset
Most of the fixed assets what we have used is fully depreciated. Now, our auditors advised to reinstate those fixed assets with any value. How we can do that? and is it possible to do?
for example, a fixed asset purchased in Apr-03 for Rs.200000, and it is fully depreciated, the net book value of that asset is "Zero". Now, we want to give a nominal value of Rs.1000 as a reinstated value. How we can give that value??
Regards,
Hitech