Capitalisation fo fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2012 Hey Friends,

Please help me with this,

As I know Capitalisation of Fixed Assets will on the date of Installation or say on Put to use date.

Suppose My business is of Projectors which I Sale as well as give on rental basis,

So I Purchase any Projector I treat it in Stock & any Projector when I Rental I Transfer it to Fixed Asset

My Question is if I Want to Transfer One Projector From My Opening Stock How & What will be treatment for this??

Journal Entry for the same in Tally ERP 9??

11 May 2012 Do you maintain details stock wise? Means do you show each and every projector as a separate stock item or do you club all of them?

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2012 Yes we maintain Details Stock

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Querist : Anonymous

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11 May 2012 will it be treated as Prior Period Income??

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2012 AS it impacts my last year's profit??


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