Saikrishnan S
(Chartered accountant - Plintron)
(186 Points)
Replied 14 February 2017
The entry is same as we pass for Fixed asset Capitalization. There is no difference due to the fact it has not been earlier capitalised as per companies act 2013.
Entry that is to be passed in the books of accounts is :
Fixed assets a/c Dr.
To Party A/c
At the time of payment
Party A/c Dr.
To Cash/bank A/c
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