Hi,
Kindly help me in this entry computer purchased and gifted to students . How the entry to be passed as it is not asset of the university
But whether it has to be treated as revenue expense or capital expense.
It is not a asset of university. So we cannot treat as fixed asset
Please help me in this entry.
Kindly help me in above entry
Dear Member,
Treat this expense as like Revenue Expense and debited to Profit and Loss Account.
Dear Sir,
Thank-you for response.
Kindly help with relevant examples and clarifications to support this view.
Please help me to solve this issue needed very urgently.
CAclubindia
