Costing
This query is : Resolved
hemanth kumar
(Querist)
06 November 2013
MGS Ltd. purchased a machine costing `1,25,000 for its manufacturing operations and paid shipping costs of `30,000. MGS Ltd. spent an additional `12,000 testing and preparing the machine for use. What amount should MGS record as the cost of machine?
Kindly give me the explanation.........
Kindly give me the explanation.........
CMA Ramesh Krishnan
(Expert)
06 November 2013
As per AS-10 need to capitalise Rs.1,67,000/- machinery cost till the installation can be capitalise as per AS-10
hemanth kumar
(Querist)
01 December 2013
thanq sir
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