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
2 Replies
CA Saroj Kumar
(Keen to learn something new every moment)
(2588 Points)
Replied 20 March 2014
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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