what will be the journal entry for expense which is capital nature........... please help
mohammed asharaf (accountant) (71 Points)
03 March 2010what will be the journal entry for expense which is capital nature........... please help
Amir
(Learner)
(4016 Points)
Replied 03 March 2010
Dear Mohammed,
If Aseet has been acquired or it has come to existence -
Asset(like Plant, Building, etc).................Dr
TO Cah/Bank/Creditor
IF asset has not been acquired or it has not come to existence then -
Capital Work in progress(CWIP)....................Dr
TO Cash/ Bank/Creditor