Head of account for mobile phone purchased

This query is : Resolved

Quick Summary

Low value mobile phones used for office purposes can be treated as revenue expenses and charged to telephone expenses account instead of capitalizing as assets.

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 my company purchased 2 mobile phones worth Rs. 2700 each and given to 2 employees for office purpose..can someone let me know to which head of accounts it should be taken

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 May 2014 It should be charged to revenue since value is less than 5000 Rs.

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2014 ok thanks, please let me know whether it should be charged to Telephone a/c or Office equipment a/c

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 May 2014 Telephone Expenses A/c

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Head of account for mobile phone purchased

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