Vehicle insurance
This query is : Resolved
30 December 2017
OUR COMPANY PURCHASED A NEW MOTOR CAR WORTH RS.27 LACKS
& PAID VEHICLE INSURANCE WORTH RS.80000/- ( DURATION 1 YEAR )
MY QUESTION - IS VEHICLE INSURANCE RS.80000/- IS TO BE CAPITALIZED
IN TO VEHICLE ASSET VALUE OR TREATING AS A PROFIT AND LOSS A/C
EXP.. PLEASE GUIDE US.
RAJKUMAR GUTTI
& PAID VEHICLE INSURANCE WORTH RS.80000/- ( DURATION 1 YEAR )
MY QUESTION - IS VEHICLE INSURANCE RS.80000/- IS TO BE CAPITALIZED
IN TO VEHICLE ASSET VALUE OR TREATING AS A PROFIT AND LOSS A/C
EXP.. PLEASE GUIDE US.
RAJKUMAR GUTTI
30 December 2017
To be capitalized into Vehicle Asset as Rs. 27.80 lakhs
30 December 2017
Incidental Expenses to be capitalised along with Fixed Asset like insurance, Registration, Installation etc.
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