use of stock as an office equipment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 April 2010
Closing Stock 31.03.2009
Computer: unit 1 10,000.00
Unit 2 10,000.00
From 01.04.2009 onwards
I wish to use unit 2 as an office equipment. What will be the accounting treatment?
Computer: unit 1 10,000.00
Unit 2 10,000.00
From 01.04.2009 onwards
I wish to use unit 2 as an office equipment. What will be the accounting treatment?
22 April 2010
You can treat it as sale of stock & treat the closing value as cost of office equipment
22 April 2010
you can do coversion of stock in trade to FA... pass entry in books of accounts.
Computer(FA)
to Stock....
( closing value of the stock only) Do not appreciate or deprecitate while transferring the amount... keep the same amount only
Computer(FA)
to Stock....
( closing value of the stock only) Do not appreciate or deprecitate while transferring the amount... keep the same amount only
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