Easy Office
LCI Learning

FIXED ASSET OR REVENUE(indirect) EXPENDITURE

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 April 2022 Hello Sir,


my query is regarding the passing of accounting entry

we have purchased a Software license for a period of 12 months
with Cost Rs.156000/-

now question is

1) whether this Rs.156000 will get

Debit -Software (under fixed asset)
To Supplier

or

2) whether this Rs.156000 will get

Debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier

kindly note we are end users of this software & not reseller or distributor or redeveloper


Thanks in advance
Vasant Mahajani
Profile Image

CA R SEETHARAMAN online

Profile Image

CA R SEETHARAMAN online (Expert)
09 April 2022 As software license is for 12 months,
debit -Repairs and maintenance ((under revenue (indirect expenses))
To Supplier

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links