Purchase entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2010
we Purchase vehicle of 500000 rupees for office use.
downpayment is 100000 rupees. loan amount is 400000 rupees. Emi is 8500 rupees.
so how to enter in purchase & payment entry. & which is voucher entry of EMI?
Vehicle Purchase in fixed assets? / Indirect expences?
downpayment is 100000 rupees. loan amount is 400000 rupees. Emi is 8500 rupees.
so how to enter in purchase & payment entry. & which is voucher entry of EMI?
Vehicle Purchase in fixed assets? / Indirect expences?
22 February 2010
i) Vehicle A/c Dr. 5,00,000
To Bank 1,00,000
To Loan A/c 4,00,000
ii) Loan A/c Dr. (Principle Amount)
Interest Dr. (Interest Amount)
To Bank A/c Cr.
To Bank 1,00,000
To Loan A/c 4,00,000
ii) Loan A/c Dr. (Principle Amount)
Interest Dr. (Interest Amount)
To Bank A/c Cr.
22 February 2010
Agreed. Vehicle purchase is Fixed asset
23 February 2010
Loan Repayment is less from Loan amount while its interest is gone to p&L as indirect exp. every year after loan complition there is only one thing in your balance sheet and thats is your vehile a/c.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Free lancer income
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- Specified Profession
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
