If i buy new car and get further discount if i sell old car to the dealer, does this discount reduces the cost of new asset or increases the selling price of old vehicle
PSCHANDNANI (CFO) (25 Points)
03 August 2012If i buy new car and get further discount if i sell old car to the dealer, does this discount reduces the cost of new asset or increases the selling price of old vehicle
Ravi Shankar Dubey
(zindagi ek sangharsh)
(100 Points)
Replied 03 August 2012
AT THE TIME OF SELL
1. PARTY A/C DR. xxxxxx
TO CAR CR. xxxxxx
AT THE TIME OF RECD PAYAMENT THROUGH PARTY
1. PARTY CR. xxxxxxxxxx
BY BANK / CASH xxxxxxxxxx.
AT THE TIME OF PURCHASED NEW CAR.
CAR A/C DR. xxxxxxxxxxxxx (FULL AMT)
TO DISCOUNT RECEIVED CR. xxxxxxxxxxx
TO PARTY CR. xxxxxxxxxxx
AT THE TIME OF PAYMENT TO VENDOR
PARTY A/C DR. xxxxxxxxxxxxx (AFTER DISCOUNT)
TO BANK /CASH.
OR
CAR A/C DR. xxxxxxxx ( AFTER DISCOUNT AMT)
TO PARTY xxxxxxxx
S Gupta
(Finance Manager)
(92 Points)
Replied 03 August 2012
Hi
If you adjust the old car value as discount, then u will pass the following entry as
New Car A/c. Dr
Old Car A/c. Cr
Supplier A/c. Cr
CAclubindia
