Capitalization of expenses
This query is : Resolved
26 November 2012
vehicle purchased for 45 lakhs . paid down payment 5 lakhs . and taken loan for 44 lakshs . excess of 4 lakhs is for term charges on loan taken how can i capiatlize that termcost . please help me in posting journal entry . please tell me the journal entry
pls do favour for me m
pls do favour for me m
Amol S Joglekar
(Expert)
26 November 2012
Debit Vehicle A/c 45 lakh
Credit Supplier. (Toyota, Range Rover, etc)
Debit Supplier. 45 lakh
Credit Bank 5 lakh
Credit Loan giver(Financial Inst) 40lakh
(Please provide details of this TERM CHARGES for further journalisation)
Credit Supplier. (Toyota, Range Rover, etc)
Debit Supplier. 45 lakh
Credit Bank 5 lakh
Credit Loan giver(Financial Inst) 40lakh
(Please provide details of this TERM CHARGES for further journalisation)
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