what is the accounting and tax treatment for UPS batteries purchased by replacing the old one?.The payment is made for new ones after adjusting the value of old batteries.
SOMU SAI MANIKANTA KUMAR (ARTICLE STUDENT) (45 Points)
24 July 2014what is the accounting and tax treatment for UPS batteries purchased by replacing the old one?.The payment is made for new ones after adjusting the value of old batteries.
CA SONIYA AGARWAL
(self practice)
(3005 Points)
Replied 24 July 2014
NEW BATTERY A/C DR
LOSS ON REPLACEMENT OF OLD BATTERY ( IF LOSS) DR
TO OLD BATTERY
TO GAIN ON REPALCEMENT OF OLD BATTERY ( IF GAIN )
TO CASH