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SAMIR KUMAR PATI (Querist)
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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

CA Kishore Tallam

CA Kishore Tallam (Expert)
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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.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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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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