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Accounting treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2018 Electricity department charges Rs.30 lacs for installation of new transformer and line for a running Rice Mill-.The assets belongs to EB department.
How to treat the amount RS.30 lacs in accounts.
Thanks in advance
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Gokul Sharma

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Gokul Sharma (Expert)
15 September 2018 capitalised the expense under electrical installation head as fixed assets.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
15 September 2018 CAPITALISE THE EXPENSES
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