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Costing

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(Querist)
06 November 2013 MGS Ltd. purchased a machine costing `1,25,000 for its manufacturing operations and paid shipping costs of `30,000. MGS Ltd. spent an additional `12,000 testing and preparing the machine for use. What amount should MGS record as the cost of machine?

Kindly give me the explanation.........
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
06 November 2013 As per AS-10 need to capitalise Rs.1,67,000/- machinery cost till the installation can be capitalise as per AS-10
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hemanth kumar

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hemanth kumar (Querist)
01 December 2013 thanq sir
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