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what is the treatment of frieght paid on purchase of fixed
asset? & where it shold be shown?
- 3 Answers
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Answers were Sorted based on User's Feedback
Answer / kishore
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 ? | 7 Yes | 2 No |
Answer / b.k.b
Freight should be added to the cost of fixed asset and it
is shown in balance sheet of asset side.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / santy
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 ? | 4 Yes | 2 No |
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