Over-hauling expenses of a secon hand machinery should be debited to ---------

Over-hauling expenses of a secon hand machinery should be
debited to ---------

Question Posted / satyaki_raju@yahoo.co.in

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Over-hauling expenses of a secon hand machinery should be debited to ---------..

Answer / h.r. sreepada bhagi

Machinery Maintenance or Repairs A/c. Since it's not
purchase or creation of a new asset, it's not capitalised
but charged off to the Profit & Loss A/c of the year in
which it's incurred.

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Over-hauling expenses of a secon hand machinery should be debited to ---------..

Answer / guest

Machinery A/c

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