kiran (proprietor) (24 Points)
30 December 2014Dear Sir,
Our client has Stock in Trade of Computer System and acessories amounting to Rs 12 Lakhs as opening stock.
In the current year the client wants to use the Computer System and acessories for its own business. Thus the assesse wants to Capatlise the Stock in Trade and transfer the same to Fixed Assets. Please let us know the entry for the same in Tally.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 05 January 2015
At current, the computer system is under stock item in tally. And now you want to convert it as Fixed Asset. So create a ledger in the name of computer system under the head of fixed asset.
then now pass the following entry.
Computer system (fixed asset) ..... Dr.
To Purchase (computer system) stock
Amount will be same as purhcase amount of that stock converted.
ANURADHA
(Executive Accounts)
(35 Points)
Replied 18 March 2017
Conversion of Stock into Fixed Asset
Create a Asset under Fixed Asset
Dr.Fixed Asset (Computer)
Cr. Stock(Computer)
At the time of passing JV Dr.Fixed Asset is coming. But I cannot able to credti the stock inthe JV. Kindly advice me
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 18 July 2017
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 18 July 2017
Ranjith Poojary
(4 Points)
Replied 23 January 2019
If its a manufacturing unit?
We have purchased materials from various places and assembled to a finished product. How can we transfer the stock into a fixed asset? Kindly advise,
surbhi jain
(Student)
(22 Points)
Replied 19 July 2019
naveen kumar chaudhary
(Sr. Accountant)
(24 Points)
Replied 19 November 2021
But Sir Stock Item not less
naveen kumar chaudhary
(Sr. Accountant)
(24 Points)
Replied 19 November 2021
But Sir Stock Item is not decrease.
Salahu Pulikkal
(79 Points)
Replied 23 March 2022
Please guide..
What if the stock item taken from opening stock..?
CAclubindia
