if a Telephone purchase for office use, is it able to take as Fixed assets?
and what is the head,and journel, i should keep for this entry? plz help.
4 Replies
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 25 May 2014
yes.. it is a fixed asset. and journal entry will be "telephone a/c debit to cash/bank a/c.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 26 May 2014
Agree with above reply. Telephone to be classified as Office equipment and charge depreciation accordingly.
akanksha
(student)
(39 Points)
Replied 11 October 2014
Yes, it will be classified as an office euipment and depriciated accordingly.
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