Basic query in accounting
This query is : Resolved
08 October 2013
Whether below entry are correct?
If cost of self-construced asset(Machinery)=Rs4,50,000 Outside price(If we purchase)=Rs 6,00,000.
Machinery a/c Dr 4,50,000
To Cash a/c 4,50,000 (Actual cost)
If cost of self-constructed asset(Machinery)=Rs6,00,000 Outside price(If we purchase)=Rs 4,50,000.
Machinery a/c Dr 6,00,000
To cash a/c 6,00,000 (Actual cost)
I will be very much thankful to you.
If cost of self-construced asset(Machinery)=Rs4,50,000 Outside price(If we purchase)=Rs 6,00,000.
Machinery a/c Dr 4,50,000
To Cash a/c 4,50,000 (Actual cost)
If cost of self-constructed asset(Machinery)=Rs6,00,000 Outside price(If we purchase)=Rs 4,50,000.
Machinery a/c Dr 6,00,000
To cash a/c 6,00,000 (Actual cost)
I will be very much thankful to you.
08 October 2013
yes.. no need to see what is there outside.. what is your cost is to be capitalized.. so you are correct in both case..
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