Capitalisation of Fixed Assets
This query is : Resolved
17 September 2009
If cash system of accounting is used and for any fixed assets purchased 80% payment is made and balance 20% amount is retained as retention money. In that case fixed assets should be Capitalised at 80% Valaue or 100% Value.
Thanks in Advance.
Thanks in Advance.
18 September 2009
Fixed asset to be capitalized at 100% value
19 September 2009
In cash basis of accounting, you would only consider what you pay or receive in cash, nothing else.
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