Freight & Demurrage incurred on asset
This query is : Resolved
31 July 2008
Freight & Demurrage incurred on purchase of any asset should be taken in which account i.e whether in Respective Asset A/c or in Freight Inward A/c.
Revert at the earliest..
1
Revert at the earliest..
1
02 August 2008
Reference shall be made to AS-10: Accounting for Fixed Assets.
The Cost of Fixed Asset should comprise its purchase price and any other costs directly attributatble to bringting the asset to its working condition for its intended use. Hence, above cost should be capitalised.
The Cost of Fixed Asset should comprise its purchase price and any other costs directly attributatble to bringting the asset to its working condition for its intended use. Hence, above cost should be capitalised.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
