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if a company purchased cell phones for employees how to
treat that expenses is it asset for the company under which
ledger it will come pls tell me friends?
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Answer / kavita
if company purchase cell phones for employer than it will
be treated as office equipments.
in books entry will be.
office Equipments A/c Dr.
cash/ Bank account Cr.
| Is This Answer Correct ? | 44 Yes | 4 No |
Answer / rahul
it,s depend upon situatin if mobile given for whole time
for employee than it,s Expens for company
entry is
p/l a/c ------dr.
To C/b a/c
if only for office use than its asset of the company
office eqp a/c------dr
To C/b a/c
| Is This Answer Correct ? | 16 Yes | 7 No |
Answer / suman baranwal
since cell phones are assets for the co. as it belongs to
co. & given to employee for office purpose,entry will be:-
office equipments dr.
to cash/bank
mobiles will be the subhead under office equipment.
cell phones will remain with the co. on change of employee
as employee hand will change for the use of mobiles & they r
not given to employees for their personal purpose
| Is This Answer Correct ? | 7 Yes | 7 No |
Answer / divya s k
since it is purchased for the sake of employees, it is an
indirect expense & hence debited to P&L a/c
P&L a/c Dr.
To general expenses a/c
| Is This Answer Correct ? | 3 Yes | 15 No |
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Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
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