Locker purchased for office strong room for ₹57000/-. Is this to be capitalized
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Accounting for locker purchase
Replies (2)
Yes. certainly It comes under capital expenditure. Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment. CapEx is often used to undertake new projects or investments by a company.So lockers also gives income in future to the organisation.
Yes as it is an assets which will be used for longer than 1 year. Hence same is required to be capitalized
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