Hi Everyone ,
I am totally new to the finance /accounting field , please pardon this query i had if its silly ...
I was wondersing if an company purchased for 10 lakhs a tangible asset ( eg IT equipment like servers ) and assume this asset has life of 5 years . how should this asset be shown in the balance sheet .My question is
- Will the asset value (10 L) be divided by 5 yers and then shown in one Quarter final statement ?
- Under which section will this be shown Asset ( non current asset ) ?
- how is the depreciation percentage considered for this kind of asset ?