hi
we have five tube lights in the premises if 3 lights destroyed by fluctuation and after that we replaced it by another 3 new lights then how i will show the entry in books.in a partnership accounts
thanks
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about depreciation
Replies (4)
For the tubelights which has been destroyed you must have charged it to P/L account when those were purchased, so you neednot make any entry for its loss due to fluctuation.
But as regards new tube you may pass the entry as follows;
Electrical Maintanance A/c. Dr. .....
To Cash/Bank A/c. ......
As there is no increase in capacity so treat those expenditure as revenue expenditure
BUT CAN I SHOWED BULBS , LIGHTS ETC AS FIXED ASSETS (FIXTURE & FITTINGS) OR NOT?
Give us a practical situation dude! You will get an answer. Don't come up with examples of capitalising tubelights and nuts...
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