Hi
Company purchased machinery! There is an invoice for it.
Purchases dr.
Payables cr.
And
Payables dr.
Bank cr.
Then how is the asset recognised?
And how come capital expenditure recognised as
Machinery dr.
Bank cr.
U/S how is it applicable?
I hope i dont have to answer my own question tomorrow :)
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
