Fixed assets

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Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2013 Purchase of Mobile phone and Music System can be accounted as Fixed Assets?

CA Prashant Gupta

CA Prashant Gupta (Expert)
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25 February 2013 it depends, if amount is less then 5000 then no need to capitalise.
but if more then it can be capitalised
mobile and music system both can be office equipments
if there is guest house then music system can be capitalised in furniture and fixture of guest house also
but it depends on use

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Guest

Guest (Expert)

25 February 2013 GENERALLY,

MOBILE PHONE SAND MUSIC SYSTEMS HAVE BEEN TREATED AS FIXED ASSETS.

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