what is purchase entry how to book the entry
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Answer / kallol saha
If fixed assets purchased on credit
Fixed Assets A/c dr
To Creditorr
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i have one doubt. i purchases of fixed assets from other state the value 5 lack. the transpotation cost of 50 thousand now the value of fixed asstes is 550000 or only 5 lack, it is right or worng .. pls cleare my question
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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
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