Sir/Madam
I just want to know the accoutning entry of Ceiling Fan, Exhaust Fan, Weighing Machin, in Revenue Expendiure
paresh maruti shelar (Accountant) (40 Points)
31 October 2017Sir/Madam
I just want to know the accoutning entry of Ceiling Fan, Exhaust Fan, Weighing Machin, in Revenue Expendiure
satish
(teaching)
(2046 Points)
Replied 22 December 2017
Yor intention is wrong.
Your specified items will satisfies the definiton of Fixed asset under As 10.
So initially you have recognise these items as Fixed asset, then you can consider 100% depreciation by applying Materiality concept.
But you can not transfer asset directly to Profit and loss a/c.
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