Finance - Documentation Charges
This query is : Resolved
01 August 2010
Hi Experts,
How should we make the entry for Documentation charges, charged by Pvt.Bankers/Financiers on Vehicle Finance.
Eg: Inv.Value-15,00,000/-
Down Payment -5,00,000/-
Finance Value - 10,00,000/-
Documentation Charges -7,500/-
Pls clarify
How should we make the entry for Documentation charges, charged by Pvt.Bankers/Financiers on Vehicle Finance.
Eg: Inv.Value-15,00,000/-
Down Payment -5,00,000/-
Finance Value - 10,00,000/-
Documentation Charges -7,500/-
Pls clarify
CA Ujjaval Desai
(Expert)
01 August 2010
1) Assets...Dr. 1500000
To Vendor A/c 1500000
2) Vendor A/c 1500000
To Borrower 1000000
To Bank 500000
Documentaion Charges to be Capitalised
on Payment
Charges 7500
To Bank 7500
Capitalised
Assets 7500
To Charges 7500
To Vendor A/c 1500000
2) Vendor A/c 1500000
To Borrower 1000000
To Bank 500000
Documentaion Charges to be Capitalised
on Payment
Charges 7500
To Bank 7500
Capitalised
Assets 7500
To Charges 7500
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