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Fa less than 5000
Suppose i purchased 10 speakers for 30000. How do i account it? FA less than 5000 since each speaker is less than 5000? or since total bill is more than 5000 it should be capitalised?
Replies (3)
The capitalisation not only depends upon amount but also use.
You use would determine whether the same shall be capitalise or not
The capitalisation not only depends upon amount but also use.
You use would determine whether the same shall be capitalise or not
Fine. I have another doubt. Has the provision of writing off of FA less than 5000 been scraped out because i couldnt find such provission in Scchedule II?
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