sir,
new vehicle selling price= 190000
old vehicle taken as exchange price=50000
additional cost incurred on old vehicle =5690
old vehicle sold =62000
please provide accounting entry for exchange on the same for vehicle dealer
dhara (accountant) (24 Points)
18 February 2015sir,
new vehicle selling price= 190000
old vehicle taken as exchange price=50000
additional cost incurred on old vehicle =5690
old vehicle sold =62000
please provide accounting entry for exchange on the same for vehicle dealer
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3293 Points)
Replied 18 February 2015
For additional cost for old vehicle the entry will be Old vehicle a/c Dr
To Bank/cash a/c
For exchange of vehicle: New vehicle a/c Dr ( with new vehicle price)
To Old vehicle a/c (with old price)
To Dealer a/c or Bank a/c( balance amount)
Ganesh Mulwad
(Accountant)
(26 Points)
Replied 18 February 2015
Anup A Deshpande
(Freelancer)
(77 Points)
Replied 18 February 2015
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 18 February 2015
utkarsh sajwan
(student)
(43 Points)
Replied 20 February 2015
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