ACCOUNTS BOOK ENTRY

This query is : Open

umesh kumar (Querist)
Follow

25 June 2022 HELLO SIR

MY FIRM IS PARTNERSHIP FIRM AND FEW DAYS BACK I BOUGHT A NEW CAR WITH PERSONAL (PARTNER) NAME. SIR SOME PAYMENT OF CAR WE PAID FROM FIRM BANK ACCOUNT AND SOME PAYMENT WE MADE THROUGH BANK LOAN. BUT BANK LOAN IS PARTNER NAME NOT FIRM NAME. HOW WE MADE ENTRY OF THE SAME IN OUR ACCOUNT BOOK. KINDLY CLEAR MY ISSUE EARLY AS POSSIBLE.
SIR PLEASE TELL ME CAN I ENTER THIS CAR AS A FIXED ASSETS IN MY FIRM BOOKS ? IF YES PLEASE TELL ME HOW I CAN ADJUST PAYMENT IN DEALER ACCOUNT WHICH I PAID FROM MY FIRM BANK ACCOUNT AND THROUGH BANK LOAN ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 June 2022 Payment made from firm's bank account show it as partners drawings.

Message likes : 1 times

CA Puja Sharma

CA Puja Sharma (Expert)
Follow

25 June 2022 Adjust the payment made from the firm's account with the Partner's capital account.

umesh kumar

umesh kumar (Querist)
Follow

25 June 2022 SIR CAN I ENTER THIS CAR AS A FIXED ASSETS IN MY FIRM BOOKS ? IF YES PLEASE TELL ME HOW I CAN ADJUST PAYMENT IN DEALER ACCOUNT WHICH I PAID FROM MY FIRM BANK ACCOUNT AND THROUGH BANK LOAN ?

umesh kumar

umesh kumar (Querist)
Follow

28 June 2022 SIR CAN I ENTER THIS CAR AS A FIXED ASSETS IN MY FIRM BOOKS ? IF YES PLEASE TELL ME HOW I CAN ADJUST PAYMENT IN DEALER ACCOUNT WHICH I PAID FROM MY FIRM BANK ACCOUNT AND THROUGH BANK LOAN ?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now