Accounting entries
This query is : Resolved
03 December 2012
Goods given to employees as free of cost what will accounting entry
e.g a mobile co gave mobile to staff free of cost what will be accounting treatment ?
& what will be accounting entry for stock whether it is shown as sales & if yes what will be the price ?further mobiles given whether it should be included in the salary ie consider as perxs
e.g a mobile co gave mobile to staff free of cost what will be accounting treatment ?
& what will be accounting entry for stock whether it is shown as sales & if yes what will be the price ?further mobiles given whether it should be included in the salary ie consider as perxs
Amol S Joglekar
(Expert)
03 December 2012
free samples account is created. The samples given are accounted for through this account. A prudent norm suggests that this account should be classified as INDIRECT expenses (In tally), thereby keeping the gross profit % intact.
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