Yasaswi Gomes new
(Finance )
(4492 Points)
Replied 04 March 2023
Depends upon the life of the asset. Long-term is non current and short term is current assets. Only company accounts are shown as company accounts. Other assets cannot be included. Only two types of assets, capital assets used in business and assets used for capital appreciation like land and share investments
Atharv Sankliya
(1323 Points)
Replied 06 March 2023
Yasaswi Gomes new
(Finance )
(4492 Points)
Replied 06 March 2023
Dr Held for sale asset
Cr. Debtors
And Dr. Any loss as impairment loss. Stop depreciation
Kiran RPN
(11 Points)
Replied 06 March 2023
In My opinion sale for exchange of machinery,
If such machinery is not used in the normal course of business then such assets must be classified under investments be it current or non-current.
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