Debit side of trial balance include- opening stock, Purchase, Sales return, Depreciation, All expenses(discount Allowed/Interest paid, Bad debts, insurance premium....etc.), All assets including cash,bank,debtors..etc. i.e. All assets, expenses& losses, Drawing, Prepaid expenses.
Credit side of trial balance include- Sales, Purchase Return, All Income (Discount received/ interest Received...etc),All Liabilities including capital, creditors, Bank overdraft,loan's..etc. i.e. All liabilities, Incomes & Gains,Outstanding Expenses, Capital..etc.
Company Providing Mobile handset to all employee on free of
cost and returnable basis while leaving the job. My query is-
how i account the above transaction -
under fixed asset or mobile expenses- ( indirect exp) or
staff welfare ( indirect exp )