22 September 2014
if this is rent received, then you need to book as sales/other incomes depending on the dominant business activity you are engaged in
if this is expense, then booking shall depend on the purpose of renting the projector. If you are an educational institute etc, then it should be booked as direct expense (ie considered as expense for computing gross profit). if you are, lets say, a manufacturing concern, then book it in the p&l in office expenses etc
CAclubindia
