How will I post entries to Tally If I purchased a Car in
Loan.
The principal Amount = 62930
Interest = 6846
Total = 69776
We have to pay Rs 1191 every month for 4 years
which include Principle amount and interest. how can I post
the monthly entries to tally
Answers were Sorted based on User's Feedback
Answer / binoy abraham
1. First Entry
Fixed Assets A/c Dr 62930
Interest Supence A/c Dr 6846
To Bank Loan A/c 69776
2. Monthly 2 entries
Bank Loan A/c Dr 1191.00
To Bank Current A/c 1191.00
Interest A/c Dr 142.63 (6846/48) for monthly int
To Interest suspence A/c 142.63
Is This Answer Correct ? | 15 Yes | 6 No |
Answer / majeedf13
1) journal entry for Car Purchased
Fixed Asset A/c Dr.62930
Interest A/c Dr 6846
To Bank Loan A/c 69776
Every Month Jounal Entry
bank Loan A/c 1191
to Bank A/c 1191
Is This Answer Correct ? | 7 Yes | 6 No |
Answer / ravi
loan taken = 62930
interest = 6846
total = 69776
we have issued 48 postdated cheques so every month 1 cheque
will be cleared of amounting 1191*48 = 57168
every month one cheque amounting to 1191 will be cleared
Is This Answer Correct ? | 0 Yes | 10 No |
What is Capital Market India in your own Words?
Our is a banking Activity, one person is supplying printing advertisement sheet of our product, whether he is liable to deducte TDS @ 1%
Tell me did you use accounting applications at your previous companies or prefer working manually?
what is tax invoices
can we credit depreciation of the year to the general reserves in a balance sheet of that year? and also enlist some relevant documents or standards?
what is meant by OGL ?
What is depreciation and how many types are there. Please give details?
which is the first bank established in india?
A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
what is the golden principles of accountin
What are the characteristic features of financial accounting?
A company has not deposited TDS since April 2010 till 31-12- 10. TDS amount is around 3.00 Lacs per month u/s 194c,J and 1.00 U/s 192. Can any one tell concequences and chart in excel sheet how much to be deposited as on 31.12.2010 with interest. For each quarter - whether interest calculation is separate or to take it cumulative. pls explain with qanswers and hoe much panely , interest to be paid till 31.12.2010 also inform the status of tds certificates to be issued and panelty for the same for late issuance. i.e what shud be the date of issuing the certificates to public & empoloyees.