What will be the entry for making payment to Carpenter and Painting worker.?It is not about repair,Making a Hotel building.What will be the ledgers?In which account show in payment voucher?
Please reply as soon as possible,and thank you all.
Kiran Kumar (56 Points)
06 November 2020What will be the entry for making payment to Carpenter and Painting worker.?It is not about repair,Making a Hotel building.What will be the ledgers?In which account show in payment voucher?
Please reply as soon as possible,and thank you all.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 07 November 2020
All pre-Operating expenses are expensed if they don’t fall under plant. Here, since it is falling under plant and equipment, capitalise the expenses.
Fixed assets a/c
To Bank a/c
in ERP I wonder how it is done. Supposing PPE is 10,000 and expenses related to bringing the asset to life like above is 1000₹, then
Fixed asset 10,000₹
Painting expenses 1,000₹
To bank 11,000₹
Th ledgers usually are payables, bank, expenses
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