A very Interesting Query...
This query is : Resolved
Sumit B Choksi
(Querist)
12 July 2011
A Private Limited Co. has purchased a dog for security purposes...
Should it be capitalised as a fixed asset?
Should it be debited to Profit & Loss Account as Security Charges?
Should it be treated as Deferred Revenue Expenditure?
Should it be capitalised as a fixed asset?
Should it be debited to Profit & Loss Account as Security Charges?
Should it be treated as Deferred Revenue Expenditure?
bhupender soni
(Expert)
13 July 2011
Hi sumit
Company is invest for security purpose investment amt must be debated in profit and loss account and traded as a deferred revenue expenses but dog is not come under the legal definition of fixed assets so its not capitalized as a fixed assets
Company is invest for security purpose investment amt must be debated in profit and loss account and traded as a deferred revenue expenses but dog is not come under the legal definition of fixed assets so its not capitalized as a fixed assets
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