Fixed Assets
This query is : Resolved
17 July 2009
Whether fixed assets received free of cost can be capitalised at nominal value or zero value ?
CA. B.SRINIVASULU
(Expert)
17 July 2009
Book at full value and credit the same to capital reserve.
It will reflect a realistic picture.
Book at full value and credit the same to capital reserve.
It will reflect a realistic picture.
CA Nitin Wadhwani
(Expert)
17 July 2009
They are to be recorded at nominal value such as Rs.100/-.
This is a generally accepted accounting practice.
This is a generally accepted accounting practice.
18 July 2009
Yes, these are to be booked at a notional value.
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