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ASSETS CAPITALIZATION

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2010 Dear Freinds

we have purchases a computer of Rs.100000 and provide a liablity of Rs.5000.

But the remain liablity was not paid to vendor/supplier due to dealy in installation.

What accounting will be done for Rs.5000/-

Thanks
Ankit Gupta
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Rasesh

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Rasesh (Expert)
25 March 2010 In my view the asset should be booked only to the extent of payment made.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agreed
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