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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Depreciation
Replies (3)
Quick Summary
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
I agree with Mr.Giridhar
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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