Ownership of personal assets of director by the company


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
06 January 2014 Can anyone tell me whether a private limited company engaged in business of construction own a wrist watch?

06 January 2014 yes, definately comapany can buy it.

but depreciation will not be calculate on it.

it will be considered as other current asset.


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 January 2014 Why current asset Hardik ?
The company has not bought the watch for resale but for wearing apparel for the director.

11 January 2014 IT IS NOT FOR RESALE STILL IT IS A CURRENT ASSET BECAUSE BALANCE SHEET OF COMPANY IS PREPARED BY FOLLOWING SCHEDULE VI


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 10 August 2026
Article Assistant

Suraj Garg and Associates

New Delhi

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details