Entry of fixed assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2015 If I purchase any bike for Rs.65000/- and SBI issue credit of Rs. 50000/- in my account against EMI.

This bike is fixed assets for me and no Vat Input has to be taken for same.

What entry should I pass in tally?

Please Reply.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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24 January 2015 firstly u can do loan entry

Bank A/c Dr 50000
To SBI Loan A/c 50000

Then for payment of bike

Bike A/c Dr 65000
To bank 65000
(If whole payment by bank)

Bike A/c Dr 65000
To bank 50000
To Cash 15000
(If rem 15000 is cash payment)

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