A car is purchased for a X amount for a staff which is used for a period of 6 months and sold after six months for the same price as the resale value is good. Could anyone provide me with the solution to how to account it without treating it as a capital expenditure as it is used for only six months.
1 Replies
CA Suraj Lakhotia
(IndigoLearn)
(4898 Points)
Replied 13 June 2013
Even though it was purchased for a period less than six months, it would be in the nature of a capital expenditure.
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