Dear All, please let me know should the guns purchased by a security service provider company be capitalised in the books of accounts?, if yes then what should be the rate of depreciation on weapons?
Please let me know urgently.
Prashaanth (CA Job) (28 Points)
27 December 2014Dear All, please let me know should the guns purchased by a security service provider company be capitalised in the books of accounts?, if yes then what should be the rate of depreciation on weapons?
Please let me know urgently.
CMA.srinivasa reddy
(Job)
(206 Points)
Replied 27 December 2014
Hi, Even I am also having similar type of Doubt. Our company Constructing new plant and Company is purchasing some Machineries which are required for production purpose. Here my doubt is whether we should keep the Machineries in Capital work in progress (or) We should capitalise the Machinery. Comapany will start its production after 4 months only because the Plant construction still in Process.
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