a machinery purchase bill amount Rs 80000 and advance payment made to the supplier rs 78000 before purchase of machine and rs 2000 wrtten off as petty balance ,my question is amount by which machinery will be capitalised
1 Replies
Ankit
(Final Student)
(101 Points)
Replied 28 August 2011
The machinery will be capitalised at landing cost i.e., the cost at which it will be finally received by the entity.
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