Interested to Buy Any Domain ? << Click Here >> for more details...
Whether we add or not the Insurance policy premium of
vehicle in asset value?
- 3 Answers
- 5796 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rikii
No! because insurance policy premium is the expenses on the
assets for their maintainance.......premium amount will be
debited in the P&L a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / nagachandra pattar
Hi, Premium paid at the time of purchase should be
capitalised. and further premium paid (from next year
onwards) is our revenue expenditure
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / h.r. sreepada bhagi
Insurance is a recurring expense year after year and it's
required to be incurred every to cover the risk associated
with using the vehicle. Insurance premium will not add to
the value of the asset itself. Hence it is not added to the
value of the asset, but charged off to P&L A/c. This applies
to all kinds of insurance premiums paid. Like this the
Annual Road Tax paid is also treated similarly.
| Is This Answer Correct ? | 0 Yes | 1 No |
what is dog expenses ?
TDs Return in Excel format
what are the items falling under the category of reserves and surplus? whether bills of exchange is a reserves and surplus item 2.whther errors of omission will affect the trial balance
what is difference between job costing and process costing?
work in progress for a construction company this year is Rs.5,00,000/-.In balance sheet Rs.5,00,000/- will be debited under current asset a/c but the credit would under which account.and next year what will be the entry.please answer me in detail.
Q. Journalise The fllowing Transction.. 1. Case Sales Rs. 50000
What are the request will be submitted at the time of running payment batches
Should purchase of Hard Disk and DVD be capitalised?
What will be the journal entries in case of tax collevted at source.
Explain me what is tally accounting?
What is PBG & ABG in term of Contract for supply?
2 Answers ITP, JDM Pharmatech, Jubilant Organosys,
Whatid the rate tds on rent of plant and machinery ?
Audit 
