Ownership of personal assets of director by the company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2014
Can anyone tell me whether a private limited company engaged in business of construction own a wrist watch?
06 January 2014
yes, definately comapany can buy it.
but depreciation will not be calculate on it.
it will be considered as other current asset.
but depreciation will not be calculate on it.
it will be considered as other current asset.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2014
Why current asset Hardik ?
The company has not bought the watch for resale but for wearing apparel for the director.
The company has not bought the watch for resale but for wearing apparel for the director.
11 January 2014
IT IS NOT FOR RESALE STILL IT IS A CURRENT ASSET BECAUSE BALANCE SHEET OF COMPANY IS PREPARED BY FOLLOWING SCHEDULE VI
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