18 April 2009
If we purchase bed, bedsheets, pillow, towels etc for a service apartment worth Rs.40000/-. My query is whether we should treat this as revenue exp. or capital exp. and why? Under which head?
18 April 2009
Bed may be capitalised as a Fixed Asset under the head of Furniture and Fixtures while all other items may be w/off as revenue expenditure as all are consumable in nature.
CAclubindia
