Fixed Asset

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studying
58 Points Joined September 2007
If i receive an asset from my customer free of cost.wil that be accounted in my books??
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On 21 December 2007 at 20:21 Report
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Finance
71 Points Joined November 2007
It has to be accounted in the books of account of Company by showing the respective asset under the head "Fixed Asset" with a nominal value... i think so
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On 22 December 2007 at 09:28
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Guest
450255 Points Joined August 2012
As per my opinion, if the asset recieved is a fixed asset, then debit the asset with its nominal value and credit the 'Capital Reserve' account.
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On 06 January 2008 at 17:23


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