Company purchased a hp toner costing Rs 12000 taxable value sgst 1270 cgst 1270
how can we treat it as a fixed asset or consumables
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FIXED ASSET OR CONSUMABLES
Replies (3)
HP toner should be considered as consumables because its life is not more than one year .
so hp toner would be shown as a consumbales
hp toner ( consumables) a/c Dr 2540
to cash a/c
hp toner ( consumables) a/c Dr 2540
to cash a/c
HP Toner ( consumables) a/c Dr 12000
CGST Receivable a/c Dr. 1270
SGST Receivable a/c Dr. 1270
To Creditors a/c 14540
Creditors a/c Dr. 14540
To Cash a/c 14540
CGST Receivable a/c Dr. 1270
SGST Receivable a/c Dr. 1270
To Creditors a/c 14540
Creditors a/c Dr. 14540
To Cash a/c 14540
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