What is the machinery cost now
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2012
Dear all,
I purchased one machinery (fixed asset) worth 5,00,000 for establishing this machinery the following expenditure occured
1)traveling :12000
2)Porter charges 2000
3)Coffee Tea charges 200
4)Establishment charges 20000
5)Other Mis charges 3000
these all expenses can i add to machinery cost if yes Please tell me the entry
please explain
I purchased one machinery (fixed asset) worth 5,00,000 for establishing this machinery the following expenditure occured
1)traveling :12000
2)Porter charges 2000
3)Coffee Tea charges 200
4)Establishment charges 20000
5)Other Mis charges 3000
these all expenses can i add to machinery cost if yes Please tell me the entry
please explain
Guest
Guest
(Expert)
17 July 2012
If the above expenses are incurred in relation to acquisition of machinery then they can be added to cost of asset.
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