Accounting entery

This query is : Resolved

Ranjit Kumar (Querist)
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16 June 2014 Dear sir

Please expline me what enery should be pass if we buy purchases a capital itmes and get free gift of gold coin.

2 At the time of sales of this capital goods what entery will be passed for free received gold cion

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 June 2014 it must be credited to capital a/c
gold coin a/c ....dr
to capital account

if gold coin is sold then
bank a/c..........dr
to gold coin a/c

Ranjit Kumar

Ranjit Kumar (Querist)
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17 June 2014 Thanks for reply

for what amount should be credited to capital a/c even gold coin value is zero and what amount.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 June 2014 then at nominal value of rs 100 u must show........

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