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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2016 If we purchase chairs of rs. 8000/- for office use so it will be consider as a assets and should be posted in furniture & fixtures or should be consider exp. and posted in office exp.
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Amol S Joglekar

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Amol S Joglekar (Expert)
01 April 2016 It is asset and show under furniture and fixtures.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
01 April 2016 assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land, buildings, and equipment is called fixed assets
So booked under head of Furniture & Fixtures
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