Business promotion exp in p&l a/c or bal sheet ??

CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co)   (972 Points)

28 August 2012  

Hi members....!!!

 

One of my office client (Firm) expended Rs.13.45 lakhs for purchase of gift articles for business promotion of which their  turnover Rs.78.14Lakhs for FY 2011-12..

can i show this expenduiture in P&L a/c as an business Promotion ??? or Balance sheet as an asset ??