Renovation journal entry
This query is : Resolved
CA VIKASH AGARWAL
(Expert)
06 November 2012
which type of renovation entry pls explain the situation
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06 November 2012
agar humne office me ply wood ka work kraya to iski ntry renovetion ki hogi ya capitalised hoga?
CA SAYANTAN BASU
(Expert)
09 November 2012
Capital expenditure is that expenditure which creates an asset or addition in that existing asset or increases the durability of the exiting asset .So if plywood work is done which results in increase of durability of the asset then it will be treated as a capital expenditure .....if full renovation is being done with a long term effect (more than one accounting year ) then it will be treated as a capital expenses
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