TAB S8 ULTRA 12/256 LTE
What will be Accounting treatment & proper head for TAB Purchase??
Replies (2)
Quick Summary
If Invoice is in the name of Business pass following entry
TAB ( Ultra ) A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Trade Creditors A/c Cr
( Purchase of new TAB for Business purpose)
TAB (Ultra) will be under head Non Current Assets/ Fixed assets, Balance sheet.
TAB ( Ultra ) A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Trade Creditors A/c Cr
( Purchase of new TAB for Business purpose)
TAB (Ultra) will be under head Non Current Assets/ Fixed assets, Balance sheet.
Throw it into capital account if its personal
else record it as business asset and take depreciation @ 15.
else record it as business asset and take depreciation @ 15.
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