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Carpenter's fee
please clear one thing, if we pay a some of money to a carpenter for making of office furniture so , is it comes in furniture & fixture or an expense
Replies (5)
it should be accounted in expenses
it depends on fees if it is more than nominal amount than it should be capitalised
if furniture is new and amount is above 5000 then capitalize
if furniture is new.. it will be capitalised irrespective of amount.
Making of furniture will result into an Asset...
It will have life obviously more than a year...
so it should be capitalize and not to be recorded as an expense
If some repair work has been done then only charge it to expense
It will have life obviously more than a year...
so it should be capitalize and not to be recorded as an expense
If some repair work has been done then only charge it to expense
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