How to Journalise entry for asset purchased by personal credit card of a partner

how to Journalise entry for asset purchased by personal credit card of a partner?

 

Replies (2)
Quick Summary
This discussion explains how to correctly journalise an asset purchase when a partner uses their personal credit card. The entry involves debiting the asset account and input GST, while crediting the vendor. Crucially, the partner's capital account is credited to reflect the contribution.

Purchase asset a/c dr
to Partner a/c
DR Asset
DR Input GST
CR Vendor


DR Vendor
CR Partner Capital Account

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details