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Is fixtures and fittings an fixed asset?

Anonymous

∙ 11y ago

Updated: 9/23/2023

Yes it is, fixtures and fittings are usable for more than one fiscal year that's why these are fixed assets.

Wiki User

∙ 11y ago

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Continue Learning about Accounting

Is fixtures and fittings an asset?

sure it is

Are fittings and fixtures a cost or an expense?

It is an asset.

Is fixtures and fittings a current asset or a non current asset?

non current

If you purchase fixture and fittings would you debit fixture and fittings credit bank?

Yes, when you purchase fixtures and fittings, you would debit the fixtures and fittings account to increase your asset balance, reflecting the addition of a new asset. Simultaneously, you would credit the bank account to decrease your cash or bank balance, indicating that you have spent money to acquire the asset. This transaction follows the double-entry accounting principle, where every debit has a corresponding credit.

Is a desk a fixed asset or a current asset?

A fixed asset.

Related Questions

Is fixtures and fittings an asset?

sure it is

Are fittings and fixtures a cost or an expense?

It is an asset.

Is fixtures and fittings a current asset or a non current asset?

non current

If you purchase fixture and fittings would you debit fixture and fittings credit bank?

Yes, when you purchase fixtures and fittings, you would debit the fixtures and fittings account to increase your asset balance, reflecting the addition of a new asset. Simultaneously, you would credit the bank account to decrease your cash or bank balance, indicating that you have spent money to acquire the asset. This transaction follows the double-entry accounting principle, where every debit has a corresponding credit.

What is the difference between fixtures and fittings?

om a fixtures are the screws

What Types of fixed asset?

1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset

Is a desk a fixed asset or a current asset?

A fixed asset.

Is good is a fictitious asset or fixed asset?

fixed

Is car a fixed asset or current asset?

fixed assest

Is fixed asset a current asset?

fixed deposit is an assets

Fixed deposit is fixed asset or current assest?

A fixed deposit in the name of a firm is not a fixed asset.

Share discount is a fixed assets-?

A share discount is not a type of fixed asset, it is a type of net asset.

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