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Fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 July 2014 A company has taken 10 i phones from reliance and agreed to pay Rs. 3000 pm for each mobile for 24 months towards mobile and usage charges. Can any one tell me whether it should be capitalized in books or should Rs.3000 per month (Rs.30000 for 10 mobiles) be debited to profit and loss account.
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Sandeep Dharar

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Sandeep Dharar (Expert)
03 July 2014 It should b capitalised as per me. Capitalise it after ownership is transferred to the company after payment of last installment.

Well, other experts views should also b appreciated.
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Rupesh Jain

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Rupesh Jain (Expert)
05 July 2014 if ownership tfr to you then amount agst for instrument will be capitalize .
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