Accounting Entry

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(Querist)
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
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CA Akshat

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CA Akshat (Expert)
18 April 2009 fix assets will be credited and division's account will be debited
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CA Akshat

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CA Akshat (Expert)
18 April 2009 divisions account will be debited and fix assets account will be credited
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
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
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
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
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
21 April 2009 answered

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