Accounting treatment of stock in trade
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2013
can anybody tell the accounting treatment of stock in trade converted into fixed asset
23 September 2013
Fixed Assets Dr. and Stock Cr.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2013
but when closing stock which is trasferred to capital asset is reduced from closing stock shown in Profit n loss a/c . will it not require any accounting treatment in capital as profit will be less by that amount.
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