Menu
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.
Recent Topic
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
Related Topics
CAclubindia
