14 July 2014
Dear friends,
purchase of plant & mach for rs 5lac and transpot charges 20000, installation chargs 10000 and insurance paid for 1 year, wht is the asset cost and insurance treatment here.
15 July 2014
yes, 5,30,000 will be cost of machine for capitalization purpose. insurance is taken for one year, so it seems its fire policy type, so this will debited to P&L.
CAclubindia
