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Fixed assets

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(Querist)
21 January 2013 Dear Expert
I have purchased Chairs & Table for my office worth Rs.42,000/-what accounting treatment should i give? is it a fixed Assets or Office expenses. please guide.
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CA Priyank Singhi

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CA Priyank Singhi (Expert)
21 January 2013 It is a fixed asset. It will come under Furniture & Fixture and accordingly depreciation will be provided at the year end.

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