Cost incurred by firm to sell asset

cost incurred by firm to sell asset( machinery & plants) is recorded in which account and what is the name for the account???
Replies (2)
Quick Summary
This discussion clarifies how to account for expenses related to selling business assets, specifically machinery and plants. While costs incurred to get an asset ready for use are capitalised, the question focuses on expenses like advertising incurred when the intention is to sell the asset. The consensus points towards recording these selling costs as an expense, rather than capitalising them.

As per accounting standard cost incurred for firm is debited to asset account. Cost of improvement and other expenses till the asset is put to use is capitalised as per accounting standard 10.
I mean the expense to sell the machinery/plant like advertisement for sell of this assets

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details