Capitalisation fo fixed assets

This query is : Open

Querist : Anonymous

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??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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?

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 Yes we maintain Details Stock

Querist : Anonymous

Querist : Anonymous (Querist)

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

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 AS it impacts my last year's profit??

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