Account Head for certain transactions
This query is : Resolved
Guest
Guest
(Querist)
08 November 2009
X has hired a workshop for two wheelers repairs and service.
To make the workshop completely fit for business, X has done of its own the following activites / works:
Borewell and Plumbing works.
1. Purchase of Materials for borewell and
plumbing works.
2. Purchase of hardware materials.
3. Purchase of 1 HP Pumps.
4. Labour Charges.
Drainage work for Workshop
Same as in 1. to 4. above.
Water Wash facility
Same as in 1. to 4. above.
Electricity - 3 Phase connection.
1. Amount paid for 3 Phase connection.
2. Purchase of Materials / Cable
3. Labour Charges.
4. Expenses incurred at EB Office.
How do we account the above expenditure ?
What are the appropriate account heads ?
Experts response is highly appreciated.
To make the workshop completely fit for business, X has done of its own the following activites / works:
Borewell and Plumbing works.
1. Purchase of Materials for borewell and
plumbing works.
2. Purchase of hardware materials.
3. Purchase of 1 HP Pumps.
4. Labour Charges.
Drainage work for Workshop
Same as in 1. to 4. above.
Water Wash facility
Same as in 1. to 4. above.
Electricity - 3 Phase connection.
1. Amount paid for 3 Phase connection.
2. Purchase of Materials / Cable
3. Labour Charges.
4. Expenses incurred at EB Office.
How do we account the above expenditure ?
What are the appropriate account heads ?
Experts response is highly appreciated.
09 November 2009
Sir
As u very well know, expenditure incurred in rented premises and which have an enduring benefit can be capitalized.So all the expenditure can be capitalized and depreciated at the appropriate rates. The suitable account heads are :-
1) Bore well.
2) Building.
3) Building.
4) Electrical fittings.
As u very well know, expenditure incurred in rented premises and which have an enduring benefit can be capitalized.So all the expenditure can be capitalized and depreciated at the appropriate rates. The suitable account heads are :-
1) Bore well.
2) Building.
3) Building.
4) Electrical fittings.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
