Asset received as a free gift
This query is : Resolved
31 October 2014
respected sir/ madam,
i would like to know the accounting treatment for for this :
i would like to know the accounting treatment for for this :
31 October 2014
Book the value of the car as Rs.99,000 and bicycle as Rs. 1,000.
31 October 2014
but i have not paid any amount for byicycle ??? and any AS in this reference ???
31 October 2014
You have paid 1,00,000 and received car and bicycle. Instead of giving discount to car they have given bicycle.
31 October 2014
okie. i got it .. thanks.. but is there any ACcounting Standard in this Reference ???
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Income tax return change regime form necessary or not?
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Machinery taking back from repair work shop
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- Resignation of auditor and appointment and cfss
- Issuance of authorised capital by pvt ltd co
- Patient expenses
- New old regime
- TAX TREATMENT OF COMMODITY
- GST Registration DELHI MUMBAI
- Partner retired
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
