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purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?

Answer Posted / jay prakash singh

Laptop(purchase) a/c dr. 50000
Calculator( free, as an assets) a/c dr. 0
To cash a/c 50000
(being Laptop purchase by cash and calcutor recived as a
gift item)

Note:- Calcutor is a gift item so they have no cost as a
accounting method.

Is This Answer Correct ?    2 Yes 2 No



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