Fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2013
Purchase of Mobile phone and Music System can be accounted as Fixed Assets?
CA Prashant Gupta
(Expert)
25 February 2013
it depends, if amount is less then 5000 then no need to capitalise.
but if more then it can be capitalised
mobile and music system both can be office equipments
if there is guest house then music system can be capitalised in furniture and fixture of guest house also
but it depends on use
but if more then it can be capitalised
mobile and music system both can be office equipments
if there is guest house then music system can be capitalised in furniture and fixture of guest house also
but it depends on use
Message likes :
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Guest
Guest
(Expert)
25 February 2013
GENERALLY,
MOBILE PHONE SAND MUSIC SYSTEMS HAVE BEEN TREATED AS FIXED ASSETS.
MOBILE PHONE SAND MUSIC SYSTEMS HAVE BEEN TREATED AS FIXED ASSETS.
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