Dear all,
Please suggest me the accounting for purchase of a dedicated internet leased line.Can it be treated as asset?
4 Replies
sesha
(accounts executive)
(1101 Points)
Replied 26 February 2015
| Originally posted by : sri lakshmi revathi | ||
 |
Dear all, Please suggest me the accounting for purchase of a dedicated internet leased line.Can it be treated as asset? |
 |
if the cost of software internet line is morethan 5000 wecan capitalise, or it is less than 5000 means we can put on internet expenses
sri lakshmi revathi
(internship)
(73 Points)
Replied 26 February 2015
Thank you sir. Should it be classified as intangible asset ? please suggest.
sesha
(accounts executive)
(1101 Points)
Replied 26 February 2015
no it cannot be treated as intangible asset. We can add cost of the software to the computer ie officecomputer and we can shown it shown as office assets.
sesha
(accounts executive)
(1101 Points)
Replied 26 February 2015
intangible assets like good will patent right trademark, it does not include internet connection.
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