query relating to journal entry
This query is : Resolved
18 November 2008
if i have purchased a computer for rs.50000 and got one printer free with it what entry will be passed?
18 November 2008
this printer whether to be treated as discount or not
18 November 2008
Computer Capitalize dr
party cr
(Bing inv no. computer & Printer purchase)
party cr
(Bing inv no. computer & Printer purchase)
18 November 2008
look poonam there will be no separate entry is required to be passed for free printer.
you should capitalise the whole computer as one single assets @ 50000/- and the entry will be:
Computer account Dr. 50000/-
to Bank/cash/party a/c 50000/-
you should capitalise the whole computer as one single assets @ 50000/- and the entry will be:
Computer account Dr. 50000/-
to Bank/cash/party a/c 50000/-
18 November 2008
Any Fixed Asset acquired Free of cost is not required to be booked in accounts as the carrying cost in such a case is NIL. However, an entry in the Fixed Assets Register is required to be noted down.
02 April 2009
AGREED BY THE ABOVE OPINIONS GIVEN
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