Entries
This query is : Resolved
30 December 2015
Dear Experts how to pass entry in tally for :
Sale of Old Car and it was utilized for buying new car Ex: Old Car Sold at Rs. 1,40000/-
New Car Value is Rs.4,44949/- balance cash Rs.304949/- as Loan so pls guide how to pass the entry
Regards
Saranya
Sale of Old Car and it was utilized for buying new car Ex: Old Car Sold at Rs. 1,40000/-
New Car Value is Rs.4,44949/- balance cash Rs.304949/- as Loan so pls guide how to pass the entry
Regards
Saranya
30 December 2015
Dear saranya
1. Sale entry
Bank A/c Dr ( sale value)
Profit/Loss on sale(B.F)
to Car a/c( book value)
2. Purchase entry
Car A/c Dr.(Purchase price)
to Bank
to car loan
1. Sale entry
Bank A/c Dr ( sale value)
Profit/Loss on sale(B.F)
to Car a/c( book value)
2. Purchase entry
Car A/c Dr.(Purchase price)
to Bank
to car loan
30 December 2015
Sir's how to account the assest which is not recorded in the books and now the vehicle has been also solded out
30 December 2015
No need to account for the same as it is not recorded in the books of accounts.
If the owner insists, then route the above said entries through Capital Account of the owner.
If the owner insists, then route the above said entries through Capital Account of the owner.
30 December 2015
Agree with the learned expert Mr.Amol.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- TDS on property - Form 141 query
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- ITR-3 File/Error Found
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
