06 April 2016
Hi Sir Can a director of a Pvt Ltd co purchase a UPS device in finance for rs--130000/- for use of companies production as it is a website development company. Because finance company (bajaj finance) is financing the ups device in company . name.
If it is possible then what will be the accounting treatment
06 April 2016
you can capitalise the same under Fixed Asset , Purchase +Debit UPS Credit Vendor Payment -Debit Vendor Cr-Bajaj Finance When Payment Made to Finance -Debit Bajaj Finance Cr-Cash or Bank
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 April 2016
Thanks for giving accounting treatment for the same. But the directors of the company can purchase the asset in his name for company work purpose ?
06 April 2016
Yes, but the Liabality to be create in the name of Director.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 April 2016
Depreciation can be available for this type of assets ( online ups system) in the co. books of accounts ? How this assets to be shown in the company books of accounts
can you tell me in details that how liability to be created in the name of director of the company?