capitalisation of Assets
This query is : Resolved
Manindra Mohan
(Querist)
11 July 2009
A new Computer moniter replaces with old moniter. old moniter is not in condition of work.
Will new moniter Be capitalised?
Will The Treatement Be different, if old moniter is in condition of Work and transfer that into stock?
Will new moniter Be capitalised?
Will The Treatement Be different, if old moniter is in condition of Work and transfer that into stock?
Pradeep Kumar
(Expert)
21 February 2010
From the facts of the case, it seems that the two monitors have not been exchanged. So if the new monitor is bought, it will be capitalised. The scrap if any received for Old monitor should be compared with WDV as on date of disposal and any difference be regognised in P/L as per AS 10.
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