CBSE Class 11-commerce Answered
why is the purchase of machinery that is not recorded is subracted from purchses in trading account and added to machinery in asset side? this question is with reference to practical problem 15 of T.S.Grewal double entry book
Asked by dayanandgayu | 07 Dec, 2018, 08:14: PM
Expert Answer
Purchase of Machinery is addition to Assets (Machinery) and not categorised as "Purchases". This is the reason that purchase of machinery that has been debited to Purchases Account has been subtracted from Purchases Account and has been added to Machinery Account to disclose the correct Machinery Balance.
Answered by | 10 Dec, 2018, 11:29: AM
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