Vehicle insurance
This query is : Resolved
Rajkumar Gutti
(Querist)
30 December 2017
OUR COMPANY PURCHASED A NEW MOTOR CAR WORTH RS.27 LACKS
& PAID VEHICLE INSURANCE WORTH RS.80000/- ( DURATION 1 YEAR )
MY QUESTION - IS VEHICLE INSURANCE RS.80000/- IS TO BE CAPITALIZED
IN TO VEHICLE ASSET VALUE OR TREATING AS A PROFIT AND LOSS A/C
EXP.. PLEASE GUIDE US.
RAJKUMAR GUTTI
& PAID VEHICLE INSURANCE WORTH RS.80000/- ( DURATION 1 YEAR )
MY QUESTION - IS VEHICLE INSURANCE RS.80000/- IS TO BE CAPITALIZED
IN TO VEHICLE ASSET VALUE OR TREATING AS A PROFIT AND LOSS A/C
EXP.. PLEASE GUIDE US.
RAJKUMAR GUTTI
KAVIRAJA ADDANGADI
(Expert)
30 December 2017
Incidental Expenses to be capitalised along with Fixed Asset like insurance, Registration, Installation etc.
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