what is the treatment of frieght paid on purchase of fixed asset? & w

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Question

what is the treatment of frieght paid on purchase of fixed 
asset? & where it shold be shown?

Question Submitted By :: Pawanlodh

I also faced this Question!!

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Answer Posted By

Re: what is the treatment of frieght paid on purchase of fixed asset? & where it shold be shown?

Answer
# 1

In my Opinion The expense which is incurred to bring the 
fixed asset to use should be capitalized so we have to add 
it to the fixed asset cost.

Is This Answer Correct ?

6 Yes

2 No

Kishore

Re: what is the treatment of frieght paid on purchase of fixed asset? & where it shold be shown?

Answer
# 2

Freight should be added to the cost of fixed asset and it 
is shown in balance sheet of asset side.

Is This Answer Correct ?

1 Yes

0 No

B.k.b

Re: what is the treatment of frieght paid on purchase of fixed asset? & where it shold be shown?

Answer
# 3

The amount of freight will be added with the Fixed Assets. 
The impact will be as follows  :

In P&L the depreciation will be posted along with the 
freight charges
In Balance sheet the Fixed assets will be shown under the  
Fixed Assets head and from there depreciation will be 
deducted.

Is This Answer Correct ?

1 Yes

1 No

Santy

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