On the purchase of Fixed assets like M/c, we are Dr.it to M/c a/c & Cr. to Party a/c. Can we show the same m/c in purchase a/c first in Mfg. & Trading a/c & then pass the jv to trf. it to fixed assets.
09 March 2012
Purchase and sale include only our trading activity of business. like purchase raw material and after process sale out as finished goods. In query related to Car/bike dealer they contract with company and sale their vehicle.
CAclubindia
