Depriciation
This query is : Resolved
19 March 2009
We was purchase an asset worth rs.1,00,000.00
The Vendor Grant Us Rs.50000/- as a 10 installments of Rs.5000/- each
Vendor setoff this instalment amount in our bill (he provide us AMC service)
What Should We Tretment About this transaction in regard to depriciation & Book Expenses.
The Vendor Grant Us Rs.50000/- as a 10 installments of Rs.5000/- each
Vendor setoff this instalment amount in our bill (he provide us AMC service)
What Should We Tretment About this transaction in regard to depriciation & Book Expenses.
24 September 2011
1. Asset Purchased
Asset A/c Dr. 1,00,000
To Vendor 1,00,000
2. Payment of Installment
Vendor
To Bank
3. Adjustment of Payment against Service Invoice
Vendor Dr.
To Service Fees (Income)
There will be no impact on depreciation.
Asset A/c Dr. 1,00,000
To Vendor 1,00,000
2. Payment of Installment
Vendor
To Bank
3. Adjustment of Payment against Service Invoice
Vendor Dr.
To Service Fees (Income)
There will be no impact on depreciation.
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