Fixed asset
umarani (accountant) (4 Points)
29 September 2016
how to entry new vehicle enty in personal balance sheet
CA Tanvi Sheth
(Consultant)
(232 Points)
Replied 01 October 2016
Hello,
If you are buying a new vehicle(car), then entry is:
Car Dr.
To Bank
If there's a car loan, then
Car Dr.
To, Car loan A/c
and on daily installment:
Car Loan Dr.
To Bank
If, its not new and you are just introducing it in business then:
Asset Dr.
To Capital account
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