We have bought RACKING SYSTEM for our warehouse business. This is used for storage of goods and pallates. I would like to know whether this part of Plant & Machinery, Furniture & Fixtures or Warehouse cost.
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accounting of racking system
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The same will be capitalised as Plant and machinery. However if the item is of low value shall be capitalised as low value asset, in turn the same will be fully depreciated.
Furniture & Fixtures
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