entries
This query is : Resolved
04 November 2010
what should be the entry in tally
in case a company purchasing machinery or any fixed assets, with duties&taxes.
explain it briefly..........
in case a company purchasing machinery or any fixed assets, with duties&taxes.
explain it briefly..........
CA Ankit Shah
(Expert)
04 November 2010
Plant & machinery A/C. Dr.
To Party A/c.(if purchase on credit) Cr.
To Bank A/c. (If paid through Bank) Cr.
Plant & machinery A/C. Dr.
To Bank A/c. Cr.
(in Narration write paid as duties and taxes for purchase p & M)
NoTE: expenses incurred for purchase of p & M, should be capitalized.
If satisfied, reply by thanks
To Party A/c.(if purchase on credit) Cr.
To Bank A/c. (If paid through Bank) Cr.
Plant & machinery A/C. Dr.
To Bank A/c. Cr.
(in Narration write paid as duties and taxes for purchase p & M)
NoTE: expenses incurred for purchase of p & M, should be capitalized.
If satisfied, reply by thanks
sudhakar ca cwa
(Expert)
04 November 2010
Plant & Machinery A/C DR
Cen Vat A/C DR
Cen Vat (50%) A/C DR
Input Vat A/C DR
To Party A/c.(if purchase on credit) Cr.
To Bank A/c. (If paid through Bank) Cr.
Plant & machinery A/C. Dr.
To Bank A/c. Cr.
Cen Vat A/C DR
Cen Vat (50%) A/C DR
Input Vat A/C DR
To Party A/c.(if purchase on credit) Cr.
To Bank A/c. (If paid through Bank) Cr.
Plant & machinery A/C. Dr.
To Bank A/c. Cr.
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