02 June 2012
If the organisation has given 10000 to employee to purchase mobile phone.employee also incurred 10000 of his own and purchased a mobile phone for Rs.20000 so how much should be capitalised as a fixed asset.employee will returned mobile phone back to organisation....
02 June 2012
In my opinion, company has to capitalise the amount upto which it is liable to pay either the value of Invoice it receive is more than its actual liability. The capitalisation is to be made by special mention on voucher all the details and then capitalisation upto Rs. 10000/- is viable.
CAclubindia
