If anyone is dealing in business of renting flat of own property with furnished accommodation and they also buy in bulk furniture like dining tables, L shape Sofa, TV Unit in container from China.
How can I treat furniture as fixed assets or as inventory.
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regarding fixed Assets
Replies (1)
If building is for rental purpose, furniture is to be consider as Fixed asset asper As10.
If building is for sale purpose, then furniture is considered as stock in trade.
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