FIXED ASSET OR CONSUMABLES

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72 Points Joined August 2017
Company purchased a hp toner costing Rs 12000 taxable value sgst 1270 cgst 1270
how can we treat it as a fixed asset or consumables
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On 23 January 2019 at 20:21 Report
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HP toner should be considered as consumables because its life is not more than one year .
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On 23 January 2019 at 20:47
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72 Points Joined August 2017
so hp toner would be shown as a consumbales
hp toner ( consumables) a/c Dr 2540
to cash a/c
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On 23 January 2019 at 20:51
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HP Toner ( consumables) a/c Dr 12000
CGST Receivable a/c Dr. 1270
SGST Receivable a/c Dr. 1270
To Creditors a/c 14540




Creditors a/c Dr. 14540
To Cash a/c 14540
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On 23 January 2019 at 21:05


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