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Expenditure type

Sanjoy (Finance) (38 Points)

10 December 2015

my organization recently spent Rs. 32L for dedicated server.but this server is restored in vendor's place.what types of exp. should I book in our books?

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jaya krishna (Chartered Accountant) (262 Points)
Replied 10 December 2015

It is used by u deffered over the use full life. if it is used by both u & vendor deffered partial cost in ur books(based on estimanation how much used by u).

Abhishek Satam (financial execetive ) (86 Points)
Replied 11 December 2015

consider it is intangible assets as it is use for generating income and amortized it over its useful life, if useful life is unknown,amortized it for the period of 10 years.