What are the various Journal Entries generated through fixed
assets
Answer Posted / aravind reddy
MASS ADDITION
ASSET CLEARINGF A\C DR
TO SUPPLIER LIABILITY A\C
DETAILED ADDITION
FIXED ASSET A\C DR
TO ASSET CLEARING A\C
DEPRECIATION PROGRAME
DEPRECIATION EXPENCE A\C DR
TO ACCUMILATED DEPRECIATION A\C
WHEN DEPRECIATION HITS THE ASSET
ACCUMILATED DEPRECIATION A\C DR
TO ASSET A\C
CIP ASSET
CIP ASSET A\C DR
TO CIP CLEARING A\C
CAPITALISING CIP ASSET
FIXED ASSET A\C DR
TO CIP COST AC
Is This Answer Correct ? | 13 Yes | 2 No |
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