Poonawalla fincorp
Poonawalla fincorp

Accounting entry

This query is : Resolved 
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(Querist)
20 November 2014 Under which head of P&L Ac should I book the expense made on purchasing tools.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 November 2014 Expenditure on purchasing tools is a capital expenditure and should be capitalized.

It should not be charged to P&L Account.

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