Journal entry
This query is : Resolved
23 November 2011
pls pass the journal entry for conversion of capital asset ( jewelry ) into stock in trade in the books of a/c of sole prop.
23 November 2011
STOCK IN TRADE A/C DR. XXX
TO JWELLERY A/C XXX
(BEING,CONVERSION MADE FROM JWELLEY TO STOCK IN TRADE BY SOLE PROPRIETOR.)
TO JWELLERY A/C XXX
(BEING,CONVERSION MADE FROM JWELLEY TO STOCK IN TRADE BY SOLE PROPRIETOR.)
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