Easy Office

Exide batteries purchased -scrap swaped

This query is : Open 
Profile Image

Profile Image

(Querist)
21 February 2017 Hello there. .

Please tell ....what will be accounting of new exide batteries purchased for old invertor and scrap batteries were adjusted against it's payment..

Do i need to capitalise it??

Priya
Profile Image

Roney

Profile Image

Roney (Expert)
21 February 2017 Two questions need to be asked
Is it a material item when considering your business?
Will it be having a useful life above 1 year?
If the answer to both questions is Yes capitalise it otherwise treat it as an expense.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links