Accounting of TV stand
This query is : Resolved
31 December 2009
A co - operative organaisation or trust have purchased TV Stand costing Rs. 10000
Should it be capitalised or treated as expense
Should it be capitalised or treated as expense
31 December 2009
Dear Haresh
Purchase of Capital Assets in excess of Rs.5000 must be capitalised, therefore if your co. shwoing Cost of TV in Balance Sheet then you should add the stand Cost else show in Bal. Sheet Separatly
Purchase of Capital Assets in excess of Rs.5000 must be capitalised, therefore if your co. shwoing Cost of TV in Balance Sheet then you should add the stand Cost else show in Bal. Sheet Separatly
31 December 2009
I do agree the above view, it would be better to include the same in the furniture and fixtures category and applicable rate of Dep.
31 December 2009
It is absolutely right as amount is more that 5000. Because of the stand the value of the TV increases. So, it is capital in nature.
31 December 2009
I agree about all the Views
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- EXPORT COMMERCIAL INVOICE HSN CODE
- LIC maturity claim whether taxable
- Journal entry of busniess expenses
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
