DEP.ASSETS
This query is : Resolved
31 January 2023
Purchase of Machinery 04.05.2017 but not installed at , installation process is running .10.05.2017 fire accured and machine destroy.
QUESTIONS
1) THIS MACHINE IS ADDED TO PART OF BLOCK OR NOT? IF YES IN WHICH SECTION
2) CAN I CLAIM INSURANCE FROM INSURER COMPANY ? BECAUSE GROUP INSURANCE POLICY TAKEN BY COMPANY.
3) INSURANCE COMPANY SAID IS NOT A PART OF BLOCK & NO PRODUCTION IS START SO THIS MACHINE IS NOT PAID ANY INSURANCE AMOUNT
QUESTIONS
1) THIS MACHINE IS ADDED TO PART OF BLOCK OR NOT? IF YES IN WHICH SECTION
2) CAN I CLAIM INSURANCE FROM INSURER COMPANY ? BECAUSE GROUP INSURANCE POLICY TAKEN BY COMPANY.
3) INSURANCE COMPANY SAID IS NOT A PART OF BLOCK & NO PRODUCTION IS START SO THIS MACHINE IS NOT PAID ANY INSURANCE AMOUNT
31 January 2023
1 Machinery not installed not a part of block.
2 and 3 Check insurance policy.
2 and 3 Check insurance policy.
31 January 2023
Thankyou for reply .
If not a part of block ,then how to show in my balance sheet , my point of view they added to block but no depreciation charged.
If not a part of block ,then how to show in my balance sheet , my point of view they added to block but no depreciation charged.
31 January 2023
Okay add it in block but will be considered as non commissioned items.
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