Accounting Entry
This query is : Resolved
18 April 2009
what accounting entry pass in books of main company & division if transfer fixed assets to its new division and currently assets held in main company wip
COMPANY DIVISION DISCLOSED SAPERATLY OR INCLUED ANY HEAD OF ACCOUNTS
COMPANY DIVISION DISCLOSED SAPERATLY OR INCLUED ANY HEAD OF ACCOUNTS
18 April 2009
fix assets will be credited and division's account will be debited
18 April 2009
divisions account will be debited and fix assets account will be credited
18 April 2009
Also, in the books of the Division, entry will be as per under:
Asset A/c Dr. XXXXXX
To Head Office A/c XXXXXX
Asset A/c Dr. XXXXXX
To Head Office A/c XXXXXX
18 April 2009
H.O
1.Division A/c....Dr
To WIP A/c
Division
1.Asset A/c.......Dr
To H.O A/c
1.Division A/c....Dr
To WIP A/c
Division
1.Asset A/c.......Dr
To H.O A/c
21 April 2009
answered
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