Installation expense
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2014
should instalation expense with respect to old electronics(fans and lights) to a new building be capitalised?
installation expense includes wirring and labour charges
installation expense includes wirring and labour charges
22 December 2014
only when the new exp increases the life of the assets after incurring the exp compared to pre exp life or when there is increase in performance of asset compared to standars performance of asset then capitalise it else expense it in profit and loss account.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2014
take for an example a fan, useful life remains the same and performance remains the same.
but it has been transfered from 1 building to the other and new wirring have been done and labour charges have been paid in the new building for it.
and there are 1000 fans making the cost to be material
now what?
but it has been transfered from 1 building to the other and new wirring have been done and labour charges have been paid in the new building for it.
and there are 1000 fans making the cost to be material
now what?
22 December 2014
then exp it in profit and loss account.
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