adjusting entry machinary capitalised
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 January 2011
Hi.my firm purchased machinary in 2008
for 550000 and paid the bill ,but form St 38 shows value for 612000.my balance sheet for 2008-09 already filed. can anyone tell me what adjusting entry to pass So that balance sheet need not to change in 2008.how to capitalised the balance figure of 62000.
for 550000 and paid the bill ,but form St 38 shows value for 612000.my balance sheet for 2008-09 already filed. can anyone tell me what adjusting entry to pass So that balance sheet need not to change in 2008.how to capitalised the balance figure of 62000.
CA PARAS BAFNA
(Expert)
16 January 2011
If the higher amount as shown in ST38 is not supported by payment, then no entry is required.
16 January 2011
The answer given by Mr. Paras Bafna is perfect one that is why he is smiling.
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