the date of opening of a dental clinic is 29th Nov 2017..but the various transactions like rising of loan, purchasing of medical chairs making some payment for it etc had been occurred before 29th july..
so I want to know on which day such transactions will be entered in the books of accounts???
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date of passing of transactions occurred before inauguration of clinic in the books of accounts..
Replies (3)
Such transactions will be recorded on date of bills.
yes..but can you please explain about the transactions occurred before initiation of business.. like bank loan took place before initiation of business??
pls do explain.. .
pls do explain.. .
Bank loan is a capital and the whole amount will be reconised.
Purchase of medical chars does occur before the commencement of the business. So show them at cost in fixed assets.
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