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Conversion of stock in trade into fixed assets

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(Querist)
12 August 2014 What is the accounting entry for conversion of stock in trade into fixed assets?

How profit & loss account will be affected by these entries??
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Rupesh Jain

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Rupesh Jain (Expert)
12 August 2014 you are tfr the stock on your cost


fixed assts a/c

to purchases
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Rupesh Jain

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Rupesh Jain (Expert)
12 August 2014 you are tfr the stock on your cost


fixed assets a/c

to purchases
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sachin shenoy

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sachin shenoy (Querist)
12 August 2014 What will be the entry if the closing stock and opening stock are same?
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
20 July 2024 If the opening stock and closing stock are the same, it implies that there is no change in the quantity or value of the stock during the accounting period.
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