ASSETS CAPITALIZATION
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2010
Dear Freinds
we have purchases a computer of Rs.100000 and provide a liablity of Rs.5000.
But the remain liablity was not paid to vendor/supplier due to dealy in installation.
What accounting will be done for Rs.5000/-
Thanks
Ankit Gupta
we have purchases a computer of Rs.100000 and provide a liablity of Rs.5000.
But the remain liablity was not paid to vendor/supplier due to dealy in installation.
What accounting will be done for Rs.5000/-
Thanks
Ankit Gupta
25 March 2010
In my view the asset should be booked only to the extent of payment made.
CA Ashok Kumar Sahu
(Expert)
27 March 2010
agreed
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