Accounting treatment of stock in trade


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Querist : Anonymous

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Querist : Anonymous (Querist)
23 September 2013 can anybody tell the accounting treatment of stock in trade converted into fixed asset

23 September 2013 Fixed Assets Dr. and Stock Cr.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2013 but when closing stock which is trasferred to capital asset is reduced from closing stock shown in Profit n loss a/c . will it not require any accounting treatment in capital as profit will be less by that amount.


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