When the repairs are made during the purchasing time of a asset it is added in the value of asset but when repairs are made after the purchase of asset will it be treated as an expense or becomes a part of liability

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Dear student,

If any expense (repair) is incurred at time of purchasing an asset, it is done for keeping that asset put to use therefore that expense is added to cost of purchase.
While an expense done at later stage is not considered in cost of asset.

Regards

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When the repairs are made during the purchasing time of a asset it is added in the value of asset but when repairs are made after the purchase of asset will it be treated as an expense or becomes a part of liability

Dear student, If any expense (repair) is incurred at time of purchasing an asset, it is done for keeping that asset put to use therefore that expense is added to cost of purchase. While an expense done at later stage is not considered in cost of asset. Regards

Dear student,

If any expense (repair) is incurred at time of purchasing an asset, it is done for keeping that asset put to use therefore that expense is added to cost of purchase.
While an expense done at later stage is not considered in cost of asset.

Regards