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 :
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
- Discuss and Download CA Final Question Paper Nov 2
- Does Parag gupta's booster batch good for CA Inter
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
Related Topics :
CAclubindia
