journal entry related

This query is : Resolved

Madhanagopal (Querist)
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14 July 2010 one company was buy a car value at Rs.1179527,loan amount is Rs.900000,road tax Rs.176930,initial amount paid to car angency Rs.279527,how to pass the journal entry please give me a valuable answer

Ca Aashish Upadhyay

Ca Aashish Upadhyay (Expert)
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14 July 2010 1 CAR DEALER ACCOUNT DR. 900000

TO LOAN FROM FINANCER 900000

2 CAR A/C DR 1179527
TO CAR DEALER A/C 1179527

3. CAR DEALER A/C DR. 279527
TO BANK A/C 279527
4 CAR A/C DR 176930+INSURANCE
TO BANK A/C 176930+INSURANCE
bEING PAID FOR REGISTRATION AND INSUARNCE

TOTAL VALUE OF THE CAR WILL BE (1179527+176930+INSURANCE)

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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14 July 2010 The Journal entries are :
1)Car A/c Dr 11,79,527
to Suppliers a/c 11,79,527
2) Suppliers a/c Dr 2,79,527
to Bank a/c 2,79,527 ( for advance)
3) Bank a/c Dr 9,00,000
to Secured loan a/c 9,00,000
4) Supplier a/c Dr 9,00,000
to Bank a/c 9,00,000
5) Car A/c Dr 1,76,930
to Cash/Bank 1,76,930 ( for Road tax)

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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15 July 2010 Car A/c Dr. 1356457
__To Loan (for Car) A/c 900000
__TO Octroi Payables A/c* 176930
__TO Bank A/c 279527

*Assumed Octroi is not yet paid , if already paid credit bank account

Madhanagopal

Madhanagopal (Querist)
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20 July 2010 THANKS YOU GIVING ANSWER

Ca Aashish Upadhyay

Ca Aashish Upadhyay (Expert)
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20 July 2010 Thanks to u also! dear!

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