Purchasing calculator is an asset or expense?

Open in App

Solution

Dear Student,
Purchasing a calculator is an expense. Cost of small calculator is to be considered as Expense for a company due to materiality concept. They are to be included in Stationery or petty cash expenses. Thus, will be debited in P&L A/c.

Regards,

Suggest Corrections

Similar questions

Q. The cost of a small calculator is accounted as an expense and not shown as an asset in a financial statement of a business entity due to __________________.

Which concept is the reason behind accounting the cost of a small calculator as an expense and not as an asset in financial statements of a business entity?

Suppose asset is purchased for Rs 200000, Accumulated depreciation is Rs. 170000. and asset is now sold for Rs. 35000. Calculate gain or loss?

Q. Which of the following is considered as an asset while calculating purchase consideration?

Suppose asset is purchased for Rs 150000, Accumulated depreciation on SLM is rs. 75000. and asset is now sold for Rs. 70000. calculate gain or loss?

Join BYJU'S Learning Program

Purchasing calculator is an asset or expense?

Dear Student, Purchasing a calculator is an expense. Cost of small calculator is to be considered as Expense for a company due to materiality concept. They are to be included in Stationery or petty cash expenses. Thus, will be debited in P&L A/c. Regards,

Dear Student,
Purchasing a calculator is an expense. Cost of small calculator is to be considered as Expense for a company due to materiality concept. They are to be included in Stationery or petty cash expenses. Thus, will be debited in P&L A/c.

Regards,