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 :
CA R SEETHARAMAN
(Expert)
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 ???
CA R SEETHARAMAN
(Expert)
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 ???
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