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Purchase of fixed assets

This query is : Resolved 
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(Querist)
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
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U S Sharma

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U S Sharma (Expert)
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
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satish

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satish (Querist)
16 September 2012 Is insurance charges comes in car cost. Or its comes in insurance charges.
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