Dear Sir/ Ma'am,
Please clarify the following,
I have purchased a new shop and I have done expenditure for Renowation, Furniture etc. Then these expenditure will capitalised with cost of shop or will show as expenditure??
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Renewation expenses
Replies (2)
capitalise such expenses as they are capital in nature and its benefits will be derived over a long period of time.
If it is an expenditure incurred which is of reccuring nature, just to keep business going, then it is a revenue expenditure....If it is a one time expenditure which going to yield benefits over a period of time, then capitalise it.
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