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Fixed asset

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Ramya Bhat

254 Points Posted on 13 May 2020

In the case of making a Furniture in that if we are supplying materials for carpainter then can we say the amount paid to carpainter as labour charges be the fixed asset ???
can we add for the fixed asset.??

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Quick Summary

This discussion explores whether labour charges paid to a carpenter for furniture materials can be classified as a fixed asset. The consensus is that such costs can indeed form part of assets once the furniture is 'put to use'. This clarifies the accounting treatment for these expenses.