Accounting treatment
This query is : Resolved
27 December 2013
In case refregerator given by any coke, pepsi, ice cream companies for storing coke, ice creams, choklates etc. to shopkeeper. Then how it deal in the books of companies.
Please suggest accounting treatment
Please suggest accounting treatment
CA Sanjeev Kumar
(Expert)
28 December 2013
If its free, then no entry, just a notes is to given in the notes to a/c.
if this is at discounted rate then, entry at the amt paid.
(this is as per Indian GAAP, AS-9)
In IFRS, it has to be booked at the market value and the entry would be ;
assets Dr.
reserve surplus Cr.
(IAS 16 — Property, Plant and Equipment)
if this is at discounted rate then, entry at the amt paid.
(this is as per Indian GAAP, AS-9)
In IFRS, it has to be booked at the market value and the entry would be ;
assets Dr.
reserve surplus Cr.
(IAS 16 — Property, Plant and Equipment)
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