Hi ,
My name is Mohamed , i just wanted to knw regardind the expenses a/c posting!
if a coffee machine is purchase from the company, to which expenses account wil be posted? is it Fix assets- Equipment- sub Coffe machines? or only Equipment we need to create?
Im news in a company but i do have knowledge of accounting.. i need to learn more regarding the Expeses account entrys
I hope i can get help from this site!
Bwst Regards
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Expenses a/c entry posting
Replies (10)
You are purchasing an asset.
The benefit of the same you are going to get for a longer duration.
In future also You will purchase many equipments,so give each equipment a separate name.
-Pass the following entry-
Coffee Equipment A/c Dr.
To Party/Bank A/c
Tha above entry is absolutely correct....I agree.
The question is Purchase of Coffee Machine (TANGIBLE ASSET)
The entry is as follows
Fixed Assets (Coffee Machine) a/c Dr
To Cash/Bank a/c Cr
MANY THANKS GUYS FOR YOUR RESPONDS! \
HOW ABT THE VISA TO DEPOSIT CHARGE (AMOUNT 40) WHICH EXPENSES ACCOUNT IT WIL BE DEPOSIT?
if cofee machine is fixed asset what will be the rate of depreciation on it?
mohomad wht do u mean by visa to deposit charge??pls explain it.
hi friend
i want to ask only one think, if i purchase coffee machine and my business is not coffee business then i can chages depreciation on it. how?
as per AS-6.
Regrads
Ankur Agrawal
Coffee Machine A/c ... Dr
to BANK A/C
As simple as that
it is a fixed asset and not an expenses and subsequently depreciation will be charged on this.
You are purchasing an asset.
The benefit of the same you are going to get for a longer duration.
In future also You will purchase many equipments,so give each equipment a separate name.
-Pass the following entry-
Coffee Equipment A/c Dr.
To Party/Bank A/c
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