please help me to enter the expenses incurred on renovation.
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please urgent
Replies (5)
Expenses on renovation is revenue in nature. so transfer it to P& L Account.
BEFORE ENTERING IT,SEE FIRST WHETHER IT HAS INCREASED THE LONG TERM CAPACITY OF THE ASSET,IF ITS SO,THEN IT'LL BE CAPITALISED, OTHERWISE REVENUE..............
thanks
| Originally posted by : SAHIL | ||
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BEFORE ENTERING IT,SEE FIRST WHETHER IT HAS INCREASED THE LONG TERM CAPACITY OF THE ASSET,IF ITS SO,THEN IT'LL BE CAPITALISED, OTHERWISE REVENUE.............. |
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agree with sahil
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