Sale of one room received by one travel co complementary
This query is : Resolved
17 August 2012
Please tell me the accounting entry of sale of one room received by one travel co. at free of cost against sale of 10 rooms. How the purchase would be booked as it was received at free of cost.
U S Sharma
(Expert)
17 August 2012
look into the deed of conveyence (registration), for value details and terms.
17 August 2012
I was asking about what would be the accounting entry for sales and what would be the cost of the inventory when it was got at free of cost and entry. Pls help.
Amol S Joglekar
(Expert)
17 August 2012
only the financial transactions are recorded in Accountancy. You may capitalise this with some small expenses incurred say for opening ceremony, decoration, wall painting, paintings or like items.
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