Hi All,
we recently purchased a new fridge for our IP as follows:
Replacement Fridge $535.00
Additional 3 year warranty $119.00
Delivery $50.00
Disposal of old fridge $25.00
My understanding is that we depreciate the fridge and simply use the delivery and disposal as deductions.
What should I do with the extended warranty? Deduct or depreciate?
I will be going to an accountant, but I want to put the figures in the right part of my spreadsheet to hand over.
Cheers.
we recently purchased a new fridge for our IP as follows:
Replacement Fridge $535.00
Additional 3 year warranty $119.00
Delivery $50.00
Disposal of old fridge $25.00
My understanding is that we depreciate the fridge and simply use the delivery and disposal as deductions.
What should I do with the extended warranty? Deduct or depreciate?
I will be going to an accountant, but I want to put the figures in the right part of my spreadsheet to hand over.
Cheers.