Fixed assets
This query is : Resolved
10 September 2012
WHETHER WE CAN RECORD INGOTS MOULDS AS FIXED ASSETS IF YES THEN WHAT IS THE DEP RATE ON THE SAME.
PLEASE RESOLVE THE SAME
PLEASE RESOLVE THE SAME
10 September 2012
moulds are normally expected to last as per the INSERTIONS. If the benefits accruing are going beyod one year, it is always advisable to account for the same as fixed asset. The rate will be that of MACHINERY.
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