Hi,
Here is an entry which cause us some doubt ,kindly help us to solve, Financial year closing only.
Purchase of Blackberry porsh 160000/- Rs on 01.05.2012 , with a loan from bank of 40% at the rate of 16% interest.
on 25.11.2012 the asset will sold to Director at a cost of 85000/- Depreciation charg is 15% WDV.
kindly provide me entire journal and general ledger
Regards,
john jebaraj
For purchase of BB entry will be as follows:
blackberry Dr 1600000
To- Bank 96000
To- Bank Loan 70000
For Transfer of BB to Director
Bank A/c Dr 85000
To-BB 85000
Loss on- BB A/c 51000
To- BB 51000
Loss on BB is considered after providing for deprn @ 15% on cost
| Originally posted by : Giridhar S Karandikar | ||
 |
For purchase of BB entry will be as follows: blackberry Dr 1600000 To- Bank 96000 To- Bank Loan 70000 For Transfer of BB to Director Bank A/c Dr 85000 To-BB 85000 Loss on- BB A/c 51000 To- BB 51000 Loss on BB is considered after providing for deprn @ 15% on cost |
|
Kindly provide the accumulated depression
| Originally posted by : Giridhar S Karandikar | ||
 |
For purchase of BB entry will be as follows: blackberry Dr 1600000 To- Bank 96000 To- Bank Loan 70000 For Transfer of BB to Director Bank A/c Dr 85000 To-BB 85000 Loss on- BB A/c 51000 To- BB 51000 Loss on BB is considered after providing for deprn @ 15% on cost |
 |
i didnt understand the 1st entry of purchase please elaborate
i am little weak in a/c's
Mr. Giridhar, please tell me how you have calculated the bank loan as Rs.70000 in 1st entry ?
blacberry a/c dr 160000
To bank 96000
To bank loan 64000
bank a/c dr 85000 ( dep=160000*15%=24000)
loss on sale A/c dr 51000
To bb a/c 136000
hi all according to me dep. should be charged for 209 days as BB sold on 25.11.12 not of full year @ 15%.
and in all entries where you have charged the dep. in books???
hello sanjeev, there is % of dep given As 15% not written as 15%p.a so no need to calculate days caculation
CAclubindia
