Assets transfer to employee

Dear,

All wants to know which entry made in accounts, when

(i) we purchase mobile in company name

(ii) transfer same mobile to employee

 

please guide me

Replies (1)

i) mobile A/C Dr.

       To Cash A/C

 (being mobile purchased)

 

ii) employee A/C Dr.

       To mobile A/C

    ( being mobile transferd to employee)

 

net entry:-

employee a/c dr. 

To cash a/c

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