Easy Office
LCI Learning

Fixed assets

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 July 2014 A company has taken 10 i phones from reliance and agreed to pay Rs. 3000 pm for each mobile for 24 months towards mobile and usage charges. Can any one tell me whether it should be capitalized in books or should Rs.3000 per month (Rs.30000 for 10 mobiles) be debited to profit and loss account.
Profile Image

Sandeep Dharar

Profile Image

Sandeep Dharar (Expert)
03 July 2014 It should b capitalised as per me. Capitalise it after ownership is transferred to the company after payment of last installment.

Well, other experts views should also b appreciated.
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
05 July 2014 if ownership tfr to you then amount agst for instrument will be capitalize .
Upgrade to CAclubindia Pro. Subscribe Now!


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


Answer Query



Quick Links