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Law books purchased is an asset or an expenses

Accounting Entries 2342 views 2 replies
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Student
85 Points Posted on 30 August 2014

Dear Expers 

Please Clarify Law books Purchased is an Asset or an Expenses to an Organization.

 

Thanks in Advance

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On 30 August 2014 at 18:26 Report
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depends on you... in my view treat them as expense... 

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On 30 August 2014 at 21:45
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article assistant
45 Points Posted on 30 August 2014
From tax point of view If purchased by a professional for da use of profession it will be an asset and at da end of the each year 60% depreciation will be charged(WDV method)
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On 30 August 2014 at 23:52


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