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Whether we add or not the Insurance policy premium of
vehicle in asset value?

Answer Posted / 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



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Please Help Members By Posting Answers For Below Questions

Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year  What will be JV for this year and next year?- Thank you

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