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Accounts of new business

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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

 

 

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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