HI Everyone,
Our company purchased a mobile phone for our Managing director. Since Its a company property, we capitalised the same in our books of accounts.
My Query is, Do we need to capitalise the insurance amount also?
Thanks in advance.
Shib
shibsankar (Asst. Manager - Accountants) (119 Points)
24 April 2017HI Everyone,
Our company purchased a mobile phone for our Managing director. Since Its a company property, we capitalised the same in our books of accounts.
My Query is, Do we need to capitalise the insurance amount also?
Thanks in advance.
Shib
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 25 April 2017
No, its revenue expenditure
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