banner_ad

Asset capitalisation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 June 2014 Hi,
Pls clarify.. One asset capitalised on jan'2013. At the time of capitalisation v have missed out the freight amount due to v have not received from vendor. Now (2014) v received that bill(freight). Pls suggest can v captilalised the same.
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
12 June 2014 freight is paid by whom and when pls clarify?
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
12 June 2014 No. It can not be capitalized now. It is better to charge it to revenue.
Profile Image

GANESAN C

Profile Image

GANESAN C (Querist)
13 June 2014 Freight paid by us on june 2014
Profile Image

GANESAN C

Profile Image

GANESAN C (Querist)
13 June 2014 Freigt paid to transporter on june 2014. Due to bill received by tis month only..
Profile Image

Ravi Taori

Profile Image

Ravi Taori (Expert)
13 June 2014 It is error of omission, because it accrued in jan itself and it is realted to acquisition of asset, so rectify it
Asset A/c Dr
To Bank or Vendor
Profile Image

Ravi Taori

Profile Image

Ravi Taori (Expert)
13 June 2014 This will increase depreciation of last year for that
P&L Adj A/c Dr
To Asset A/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details