CASH PAID FOR THE PURCHASE OF WRIST WATCHES TO CELEBRITY IS GROUPED UNDER WHICH ACCOUNTING HEAD ?
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Head of accounts
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I think it depends on the nature of bussiness you are doing and purpose of giving watches. Accor. to me it can be categorise in the following heads-
1. Bussiness promotion
2. Advertising
3. Honorarium....
NATURE OF BUSINESS WAS SELLING KITCHEN INTERIORS, PAYMENT MADE FOR PURCHASING WATCH,CURIOUS ETC.
Can u give me a valid purpose for which u are giving watches to the celebrity. Is it for the purpose of adversiting ur selling products.... If it is so then u should classify the same under head" Bussiness Promotion".
Under Bussiness & Promotion
General Expenses-Business Promotion
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