basic accounting entries upto finalisation

For start business ,cash /goods a/c debited & credit capital a/c.For purchase ,debit purchase a/c & credit cash/party a/c.For sales,cash/party do debit & credit sale a/c.In case of return ,do reverse entry of sale & purchase a/c.Use the golden principle of a/c for entries of journal,cash & bank.Then prepare ledger and after trial balance.On the basis of trial make p& l a/c and balance sheet. ......u wil understand all entries on the basis of it.

HI FRIEND, COULD YOU PLZ HELP ME OUT TO PREPARE ENTRIES FOR THE FOLLOWING TRANSACTION IN TALLY:

A Co HAS PURCHASED CAR AS LOAN.

COST OF VEHICLE IS DHS 37900/-.

DOWN PAYMENT DHS 9475/-

TOTAL FINANCE AMOUNT:.DHS 28,425/-

LOAM AMOUNT WITH INTEREST TO BE PAID - 34,508/-

MONTHLY INSTALLMENT AMOUNT - DHS 719/-

INTEREST RATE 5.2% P.A

PLEASE LET ME KNOW HW TO RECORD THIS TRANSANCTION IN TALLY AND THE CALCULATION OF INTEREST.

THANKS & REGARDS

For start of Business always Debit the Items which comes into the Business and credit Capital Account to make the balance in Assets and Liabilities. For example Ram started Business and he brought Car, Fixes Assets, Cash, Bank then we have to pass the Journal entry.

Car A/c                                         Dr.

Fixed Assets A/c                        Dr.

Cash A/c                                       Dr.

Bank A/c                                       Dr.

         To. Capital A/c

(Being Business Started by Ram and he Brought Car,Fixed Assets,Cash , Bank)

AGREE WITH VIVEK