capitalisation of Assets
This query is : Resolved
11 July 2009
A new Computer moniter replaces with old moniter. old moniter is not in condition of work.
Will new moniter Be capitalised?
Will The Treatement Be different, if old moniter is in condition of Work and transfer that into stock?
Will new moniter Be capitalised?
Will The Treatement Be different, if old moniter is in condition of Work and transfer that into stock?
21 February 2010
From the facts of the case, it seems that the two monitors have not been exchanged. So if the new monitor is bought, it will be capitalised. The scrap if any received for Old monitor should be compared with WDV as on date of disposal and any difference be regognised in P/L as per AS 10.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
