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Fixed asset treatment

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amit borkar

amit borkar (Querist)
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01 July 2015 hotel are start owner purchase like spoons,knife and dishes. he capitalised them. after 2 yrs. he purchase like 1dozen spoon then what effect they capitalised or not. pls give reason for any treatment. i waiting' for suggestion.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 July 2015 These are not fixed assets, consider as consumables and debit as revenue nature expenses

Ankur Singhal

Ankur Singhal (Expert)
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01 July 2015 agree with expert Ramesh
Its not a fixed asset debit the expense to the profit and loss a/c

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