Husband is having a salary bank account joint with his wife. An asset is purchased from this bank account in the name of wife. how to treat purchase while preaparing accounts of wife?
what will be accounting entry?
Menu
How to treat joint bank accounts?
Replies (1)
Bank account will be considered in the hands of first holder. If assets are purchased by second holder then pass JV in the books of both account holders for transfer of assets.
Recent Threads
- Query under faceless assessment
- Purchase of business
- Refund of ITC for advance paid to overseas supplie
- Clubbing query (when gifts given to multiple fami
- Transfer Pricing Audit Upload Form 3CEB - Income T
- Only a Few Pages Indexed by Google Despite Sitemap
- Share sale by promoter of public limited company
- Individual working for a firm to take sales orders
- BIN view site not working
- Settlement of advance by customer
Related Threads
CAclubindia
