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Preliminery expenses (assets)

This query is : Resolved 

Dear Sir,

I want to know that what are the procedure for writting of preliminery expenses which is showing in our balance sheet.

Thanks



1/10th of the preliminary expenses will be w/off every year and debited to P/L A/C. These expenses will be w/off depending upon the period and the amount w/off will be the same every year.

Dear Satish,

I think it is 1/5 th.
Please correct me if i am wrong



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