example:
one of it person (son) gold value rs:5 lacs and property value rs:35 lacs gift from father .
question:
accounting entry passed procedure both persons books.
Menu
Accounting entry passed procedure both person books
Replies (1)
In the books of Father:
Capital A/c Dr. 40 Lac
To Gold (Capital Asset) 5 lacs
To Property (Fixed
Asset) 35 lacs
In the books of son:
Gold (Capital Asset) A/c Dr. 5 lacs
Property (Land & Building) A/c Dr. 35 lacs
To Capital A/c 40 lacs
Capital A/c Dr. 40 Lac
To Gold (Capital Asset) 5 lacs
To Property (Fixed
Asset) 35 lacs
In the books of son:
Gold (Capital Asset) A/c Dr. 5 lacs
Property (Land & Building) A/c Dr. 35 lacs
To Capital A/c 40 lacs
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
