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Capitalisation of Fixed Assets

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(Querist)
17 September 2009 If cash system of accounting is used and for any fixed assets purchased 80% payment is made and balance 20% amount is retained as retention money. In that case fixed assets should be Capitalised at 80% Valaue or 100% Value.


Thanks in Advance.
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CA Satheesh

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CA Satheesh (Expert)
18 September 2009 Fixed asset to be capitalized at 100% value
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Kaustuv

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Kaustuv (Expert)
19 September 2009 In cash basis of accounting, you would only consider what you pay or receive in cash, nothing else.
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