Hi !
I have to start a/c of new chemical business (Manufacturing unit having turn over aprx 13-15 Lacs per annum)
Can u pl tell me what accounting entries I have to pass for new business. (like stock, machinery,etc)
Thanks,
HP
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Accounts of new business
Replies (2)
machinery a/c dr.
cash a/c dr.
to capital a/c
Yes Shiani is right
If u r paying for assets ...
Then
Assets A/c Dr.
To Capital A/c
If u r paying for any expenses
then
Expenses A/c-------Dr.
To Bank/Cash A/c
(Being the cash paid for expenses)
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