CASH PAID FOR THE PURCHASE OF WRIST WATCHES TO CELEBRITY IS GROUPED UNDER WHICH ACCOUNTING HEAD ?
Rajesh Raman ( ) (292 Points)
17 October 2012CASH PAID FOR THE PURCHASE OF WRIST WATCHES TO CELEBRITY IS GROUPED UNDER WHICH ACCOUNTING HEAD ?
ANJALI NEGI
(Chartered Accountant)
(1263 Points)
Replied 17 October 2012
I think it depends on the nature of bussiness you are doing and purpose of giving watches. Accor. to me it can be categorise in the following heads-
1. Bussiness promotion
2. Advertising
3. Honorarium....
Yes anjali, it depend upon the nature of businessand for what purpose you buy this.
Rajesh Raman
( )
(292 Points)
Replied 18 October 2012
NATURE OF BUSINESS WAS SELLING KITCHEN INTERIORS, PAYMENT MADE FOR PURCHASING WATCH,CURIOUS ETC.
ANJALI NEGI
(Chartered Accountant)
(1263 Points)
Replied 18 October 2012
Can u give me a valid purpose for which u are giving watches to the celebrity. Is it for the purpose of adversiting ur selling products.... If it is so then u should classify the same under head" Bussiness Promotion".
yusufsahibmaricar
(Office Manager Cum Accountant)
(40 Points)
Replied 20 October 2012
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