Classificaiton of fixed asset

 

Hi Guys,

 

I wanted to know if a company is buying crates for storing the tools under which it would get classified 

whether under

1. Office Equipment

or

2. Furniture

 

Please reply with reason would suffice the purpose of asking the question

Thanks in Advance

Sanjay

Replies (2)

The question is not clear,boss.

Whether the crates are used in office or in stores or some where ?

What is the nature of business ?

Going by your question and assuming that the crates are used in stores,it should also be classified under    "spares and tools" and should be written-off as per the policy of the company.

It looks  it cannot be classified either as Furniture or Office Equipment.

kkm

Thanks man i guess it may help yes the crates are used in store 

:)

 

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