free gold coin along with capital asset purchased
This query is : Resolved
13 August 2016
if a company purchased car and got gold coin as a free gift. Suppose car worth 10L and gold coin worth 10k and we paid through bank . how to account this transaction
is it right to enter entry as
car a/c Dr 1000000
gold coin a/c Dr 10000
to bank a/c 1000000
to capital reserve a/c 10000
13 August 2016
yes, that can be done.....
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