Accounting of TV stand
This query is : Resolved
CA Haresh Varia
(Querist)
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
CA.SHAHZAD SAYYED
(Expert)
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
CA.ViVeK M ACA
(Expert)
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.
Murtaza I Bhagat
(Expert)
31 December 2009
I agree about all the Views
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