Please tell me purchase of computer cartridge and parts will be recorded as printing expense or fixed asset. Please clarify me.
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Purchase of cartridge is expense or fixed asset
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Quick Summary
Printing & stationery expense.
anything whose useful life is less than 12 months is regarded as an expense. and whose life exceeds 12 months is regarded as a fixed asset. hence, the cartridge's useful life is less than 12 months that's why it is a revenue expenditure.
Day to day operating expenses are expensed as well and not capitalised.
its consumable so should be book under Printing & Stationery head not in FA
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