Easy Office

Fixed assets

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 February 2016 Mr. Ashok Gupta is a Karta of a HUF Firm, ABC Trading Co.

He purchased a vehicle in his name but the payment was done through the bank of the firm

Can it be shown as Fixed Assets of the firm?
Profile Image

RAJESH KUMAR KHANDELWAL

Profile Image

RAJESH KUMAR KHANDELWAL (Expert)
16 February 2016 If fixed assets purchased by Mr. Ashok Gupta in his personal name than it should not be booked in the Firm. If you want to booked it in the firm's books of accounts than the bill of fixed assets should be in the name of the firm.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links