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what is the enty for gift given to company employee by
company but purchased by director of the company
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Answer / rakesh verma
Gift given to employees can be entered as Staff Welfare or
performance bonus and the entry would be:
Staff Welfare A/c Dr.
To Directors A/c Cr.
mention all details in narration.
| Is This Answer Correct ? | 20 Yes | 5 No |
Answer / balaji.s.
In addition when company repays the director the cost of
gift, the entry is:
Director A/c Dr.
To Cash A/c
Narration with details of gift
| Is This Answer Correct ? | 4 Yes | 5 No |
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