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
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)
CAclubindia
