The jouranl entry of purchage of fixed assets are assents
a/c dr. to cash/bank account why we not make journal entry
for this is purchage a/c dr. to cash/bank .
- 9 Answers
- 17650 Views
- Reliance, I also Faced
- E-Mail Answers
Answer Posted / vijayender
First of all, the nature of two accounts is different.
Fixed asset a/c is a real account whereas Purchase a/c is a
nominal account.
Purchases represent expenses and expenses provide benefit
only in the period in which they are incurred whereas Fixed
assets are the things of possession which provide benefit
for a long period of time. So, the nature of two accounts
is completely different.
| Is This Answer Correct ? | 16 Yes | 1 No |
Post New Answer View All Answers
Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?
What is the difference between cost accounting management accounting and financial accounting?
what is t code of all expences general legder?
In accounting, are assets a permanent account?
how to caluclate tds from emloyees and others
Define tally accounting
Why in SAP external number range should be selected for depreciation posting . any specific reasons for that explain me? Raj
Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx
What is dividend warrants?
What do you mean by ledger posting?
what are the steps for the payment cycle of the firm or company?
How Many Accounting Principale
What do you know about this position?
Describe a time when you have not met your goal?
What is dd and a in oil and gas accounting?
