Purchase of fixed assets
This query is : Resolved
16 September 2012
DEAR SIR
I HAVE PROPRIETOR SHIP FIRM, I PURCHASE ONE CAR RS.265000 (250000+ 15000)RS.15000 INSURANCE CHARGES) & I HAVE TAKEN LOAN RS.265000 FROM BANK & I PAID BANK RS. 15000 REVERT FROM BUSINESS ACCOUNT, RS 15000 WAS INSURANCE CHARGES.
IN CAPITAL ACCOUNT THERE WILL BE ENTRY OF WITHDRAW MAKE OR NOT.
THANKS
I HAVE PROPRIETOR SHIP FIRM, I PURCHASE ONE CAR RS.265000 (250000+ 15000)RS.15000 INSURANCE CHARGES) & I HAVE TAKEN LOAN RS.265000 FROM BANK & I PAID BANK RS. 15000 REVERT FROM BUSINESS ACCOUNT, RS 15000 WAS INSURANCE CHARGES.
IN CAPITAL ACCOUNT THERE WILL BE ENTRY OF WITHDRAW MAKE OR NOT.
THANKS
16 September 2012
fixed asset ( car) a/c dr 265000
to Bank Loan a/c ...............265000
Bank Loan a/c dr.15000
to Bank (business) a/c 15000
to Bank Loan a/c ...............265000
Bank Loan a/c dr.15000
to Bank (business) a/c 15000
16 September 2012
Is insurance charges comes in car cost. Or its comes in insurance charges.
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