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This query is : Resolved
12 April 2012
suppose i purchased fixed asset rs 100000 and received a CD PLAYER worth rs 2000 with it.what will be the journal entry
14 April 2012
The additional asset received will be accounted at 0 value.
Fixed Asset A/c Dr 100,000
CD Player A/c Dr 0
To Bank A/c 100,000
The asset is recorded in books at 0 value since it belongs to the company and it has to maintained in FA Register of the company.
Fixed Asset A/c Dr 100,000
CD Player A/c Dr 0
To Bank A/c 100,000
The asset is recorded in books at 0 value since it belongs to the company and it has to maintained in FA Register of the company.
14 April 2012
The expert has given you to the point reply and does not require any second opinion. I agree with him.
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