Accounting entry for fixed assets

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Pragnesh D.Shah (Querist)
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30 July 2011
What is the A/cing entry for Purchase of Fixed Assets less than 5000 Rs.

If We purchase Fixed Assets during the year more than 1 time and Amt.is cross the 5000 entry than what entry should be passed in the books of co.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 July 2011 Rs.5000 Limit need to be considered for single asset.

accounting entry, you need to debit the particular fixed assets only. and provide 100% depreciation, asset record will be there depreciation provision also can be tracked