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Depreciation

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23 Points Posted on 08 May 2020
Since I m in proprietorship
business & I purchase a refrigerator for personal use...
can I show this as an asset on my business or not???
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On 08 May 2020 at 10:19 Report
Replies (3)
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Team Lead
7558 Points Posted on 08 May 2020
No you can't show that since only assets used for business purposes can be shown in balance sheet. refrigerator purchase for personal use to be shown as drawings
30 Reply
On 08 May 2020 at 10:54
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Chartered accountant
290 Points Posted on 08 May 2020
I agree with Mr.Giridhar
2 Reply
On 08 May 2020 at 10:55
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3 Points Posted on 08 May 2020
I think it can be shown as a business asset, If you have Both your Business place and Residence are same. As if you are using the refrigerator for the business purpose.
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On 08 May 2020 at 13:13


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