exampl ..Mere balance sheet me capital 1500000 hai or mai 500000 ki land purchase kar raha hu iski entry kya hogy or current year ke capital me changes kya hoga balance sheet ke
3 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 12 February 2022
If the land is bought for business purposes from business funds then there won't be any effect on capital.
Bank Balance will come down
Land A/c Dr
To Bank
Bank Balance will come down
Land A/c Dr
To Bank
sabyasachi mukherjee
(27740 Points)
Replied 12 February 2022
Pls give proper explanation as per Golden Rule .
Here are both are real Account.
dr. what comes in
cr. what goes out.
Here are both are real Account.
dr. what comes in
cr. what goes out.
prasad Nilugal
( GST Practitioner & Accounts )
(14870 Points)
Replied 12 February 2022
@ Sabyasachi Mukherjee
In above transaction
Land is real account
Bank is personal account and not real account .
As per the golden rules , Land is real account so real account rule is , Debit what comes in , accordingly we debited Land account , and Bank account is personal account , so personal account rule is ,credit the giver so Bank account is credited .
In above transaction
Land is real account
Bank is personal account and not real account .
As per the golden rules , Land is real account so real account rule is , Debit what comes in , accordingly we debited Land account , and Bank account is personal account , so personal account rule is ,credit the giver so Bank account is credited .
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