What effect to be passed for Purchase of Fixed Assets which includes VAT and Also to write of the depreciation for Eg.: Printer Purchase for 8500/- Plus VAT @ 5% 425/- total cost is 8925/-. How to show the above entry for purchase of fixed assets and same for the depreication. plz kindly let me know.
Purchased of fixed assets
Bhavesh (Accounts) (899 Points)04 December 2011