Accounting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2012 Dear All,

We are purchasing one type of machinery called rotation testing machine and we do assembling work at factory and we export it. Please let me know how to account it.

Regards,
Anju anand

CA Kishore Tallam

CA Kishore Tallam (Expert)
Follow

14 April 2012 When u purchase assembling parts,
Inventory A/c Dr
To Liability A/c
When u manufacture a product and sell it,
Raw Material Consumed A/c Dr
To Inventory A/c
When u sell,
Debtor A/c Dr
To Sales A/c.

Message likes : 1 times