A/c Entries

1267 views 11 replies

Dear All

A director of a limited company buys a laptop for the company by his personal credit card and produces the in the name of company and submits the bill. Company pays the bill of the credit card by its own funds.

What will be the journal entries. 

Thanks

Replies (11)

1st option

Office Equipments A/C DR.

To Bank A/C

2nd option

1.

Office Equipments A/C DR.

To Directors Current A/C

2.

Directors Current A/C DR.

To Bank A/C

I think 2nd enrty above is correct one 

Thanks Guys..

The above 2nd Entry is right.But laptop is fixed asset of the company so it debited to Computer/Laptop A/c  as fixed asset. 

1st entry.

  Office Equipments A/c. Dr.

      to Concern's Creditors A/c.

Every fixed assets Bought entry should be posted to concern's Party Account , because some problems happen

in Fixed Assets in futures and you said PVT LTD COMPANY so we cant post a entry directly to bank

2nd entry.

Concern's Creditors A/c. Dr.

   to Director's Current A/c

3rd entry.

Director's Current A/c

   to Company Bank A/c

this is the way to posting entry

 

SECOND ENTRY BY AJAY KUMAR IS CORRECT

 I WANT TO KNOW THE PROCEDURE FOR RECEIVING OF ARTICLESHIP COMPLETION CERTIFICATE.

Thanking you sir for this kind of entry

2nd entry is coorect entry

Second entry  is correct one


i thing 2 entry

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