Shop purchase

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12 Points Posted on 28 July 2021
shop purchase for rental income or capital appreciation in propriotery firm.
is it taken as a fixed assest or in capital account in books of account.
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On 28 July 2021 at 18:50 Report
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Quick Summary
This discussion explores how to account for a shop purchased for a proprietary firm. The consensus is that a shop bought for rental income or capital appreciation should be classified as an 'investment property' under assets, rather than a fixed asset. This reflects its purpose as an investment rather than a core operational asset.

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52 Points Posted on 28 July 2021
It is an ASSET ,show it under investment as investment property
2 Reply
On 28 July 2021 at 21:27
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791 Points Posted on 28 July 2021
I think you can show either fixed asset or investment under investment in property
1 Reply
On 28 July 2021 at 23:30
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Chief Accountant
3150 Points Posted on 31 July 2021
As its for rental purpose, you can show that as investment
1 Reply
On 31 July 2021 at 12:06
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Chartered Accountant
24588 Points Posted on 31 July 2021
Show it as investment property
1 Reply
On 31 July 2021 at 12:08

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