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i have one doubt. i purchases of fixed assets from other
state the value 5 lack. the transpotation cost of 50
thousand now the value of fixed asstes is 550000 or only 5
lack, it is right or worng .. pls cleare my question
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Answer Posted / ramulu
now the value of fixed assets is 550000 becoz when the time
of purchse fixed assets we pay any expenses for assets that
is called capital expenditure it is added to asset value
now asstes a/c is debited to total cost of asset.
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