Question

On purchase of old furniture the amount of rupees 1000 spent on its repairs should be credited to

Answer 1

as it is a Purchase of Old furniture the expenses incurred for repairs will be considered as an capital expenditure and therefore the 1000 spent on repairs will be Credited to Furniture account.

Answer 2

Answer:

On purchase of old furniture the amount of rupees 1000 spent on its repair should be credited to furniture account.

Explanation:

Hope it helps you.