Forgot to maintain frieght charges for machinary

This query is : Resolved

sadasiva (Querist)
Follow

23 August 2012 Hi Experts,

we bought an asset for the year of 2010/4.
at that time there was Fright expencess to the Machine forgot to maintain.

in this year2012/8 now we find Fright has not maintained to the particular asset..

so, please suggest how do we maintain this Expencess and what will be the entries to pass,what are the affective accounts?

Please help me in this scenario
thanks
sadasiva

Anwar Khan

Anwar Khan (Expert)
Follow

24 August 2012 freight Expenses which was incurred on purchase of Machinery for the year 2010.
you have not adjusted in previous year but in current year you have adjusted that expenses from profit & Loss A/c

entry will have

Freight & Cartage Expenses A/c Dr.
To Profit & Loss A/c CR.