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Fixed Asset
If i receive an asset from my customer free of cost.wil that be accounted in my books??
Replies (2)
It has to be accounted in the books of account of Company by showing the respective asset under the head "Fixed Asset" with a nominal value...
i think so
As per my opinion, if the asset recieved is a fixed asset, then debit the asset with its nominal value and credit the 'Capital Reserve' account.
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