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It a company which construct warehouse or Dams in a remote areas. So can we capitalize the cost for such expense if the cost is more than $20K
Assets can be capitalized if its life(use) is consiting of more than1 financial year of economic benefits from the assets can be achieved during the estimated life of assets which should be more than one year and most of the companies are defining the minimum amount of asset which should be capitalized so it should not be below that amount.The Gas cylinder can be capitalized and depreicated over the useful life.
Yes, It can be capitalized because Gas Cylinders will not be used for one projects. It is outright purchase and will benefit company for more than one year.
