Gift
This query is : Resolved
09 February 2015
'A' get gold & silver as gift from his father, what is the accounting treatment of gift in A books.
09 February 2015
A will books as following entry (assumed as a has prop business)
Gold/Silver A/c.......dr
to capital a/c
Gold/Silver A/c.......dr
to capital a/c
19 February 2015
a get gold & furniture from his father in a partition of property , than what will be the journal entry.
19 February 2015
gold a/c....dr
furniture a/c...dr
to capital a/c
furniture a/c...dr
to capital a/c
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