The Journal Entry is same as normal. It is irrelevant to
know whether the TV is installed or not. Once the computer
is purchased you can do the entry for all 10 TV.
Dr. TV A/c (F.A A/c)
Cr. Cash or Vendor
According to Irfan ot of the 10TVs purchased for business
one is installed in the shop for display. If so the entry
will be
Purchase of Tvs Dr 9000
TV Dr 1000
To Cash/Bank 10000
Here it means one Tvs was taken under assets account and
others were taken as purchases
Dear Mithun what made u to bring capital into account. It
is a purchase made for trading. out of which one is taken
for Display in the shop. So it is to be taken as asset.
dont be hasty in making transactions. Think twice or thrice
before you answer.www.therealaccountants.com
Dear Mr.Khanirfan,
it is clearely mentioned for business use means
Computer has been used for office/business use only.
it means no Drawings.
The entry will be same as above
Purchase A/c Dr 10,000.00
Cash/Bank/Party Name Cr 10,000.00
( Being 10 CTv purchased @1,000.00 for which 1 is installed)
Regards,
Khan
it is clearly mentione that one is installed so it becomes
as capital expenditure its non-recurring in nature so the
treatment will be as follows
T.v a/c.........dr
To cash/bank a/c
As the other 9 are using for business,we should consider
them as purchases
purchases a/c..........dr
To cash/bank a/c
The prepaid insurance account has a debit balance of $3600
at the end of the year. If unexpired insurance at the end
of the year is $2800, the amount of insurance expense that
should be reported on the income statement is?
What are the differences among Mortgage, Pledge and
Hypothecation ? please any body reply me in simple language
as I have read many articals on it still I find my self
anble to explain it, I always get confused.
If want to tell personally please send me email or add me
on Gtalk
My ID is rohitash.shrm@gmail.com
Thanks