Entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 December 2012
We have taken a car for loan basis. I want the entries to be made.
Car value - Rs.16,00,000-00
Down payment we have paid to showroom - Rs.4,00,000-00
Loan From Fiance Co - Rs.12,00,000-00
We have also paid processing fee Rs.14,000/- to Finance company and one installment of Rs.39000/-.
Please how I have to make the entries in the books of accounts. Please give individual entries and reply
Car value - Rs.16,00,000-00
Down payment we have paid to showroom - Rs.4,00,000-00
Loan From Fiance Co - Rs.12,00,000-00
We have also paid processing fee Rs.14,000/- to Finance company and one installment of Rs.39000/-.
Please how I have to make the entries in the books of accounts. Please give individual entries and reply
CA Sourabh Agarwal
(Expert)
26 December 2012
Car a/c Dr. 16 lac
To Bank 4 lac
To Loan 12 lac
Bank Chgs. Dr. 14000
To loan/bank 14000
(If paid, then bank, otherwise loan a/c)
Loan Dr.
Intt Dr.
To Bank 39000
(Both loan + intt = 39000)
To Bank 4 lac
To Loan 12 lac
Bank Chgs. Dr. 14000
To loan/bank 14000
(If paid, then bank, otherwise loan a/c)
Loan Dr.
Intt Dr.
To Bank 39000
(Both loan + intt = 39000)
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