Accounting of expenditure for recording studio
This query is : Resolved
04 July 2023
Dear sirs
Seek your guidance on accounting of expenditure spent for fabrication, hardware and plywood and glass for recording studio which is more than one lakh all together in a society.
Should we capitalise this expenditure where it includes small small amounts for nails, fevicol, fabrication steel, labour charges. After capitalising what could be the rate of depreciation.
Seek your kind suggestion.
Seek your guidance on accounting of expenditure spent for fabrication, hardware and plywood and glass for recording studio which is more than one lakh all together in a society.
Should we capitalise this expenditure where it includes small small amounts for nails, fevicol, fabrication steel, labour charges. After capitalising what could be the rate of depreciation.
Seek your kind suggestion.
04 July 2023
Yes, capitalize it, rate of depreciation will be 15%.
04 July 2023
You are welcome.
12 August 2023
Dear Sir
Can we capitalize on fabrication work for the children's home (shed) at the rental premise which is permitted by the owner?
Can we capitalize on fabrication work for the children's home (shed) at the rental premise which is permitted by the owner?
12 August 2023
No. You can amortize the expense for the life span of the structure or maximum up to the rental period.
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