My company has just bought a car. The breakdown is as below:

cost of the car = 50000
Interest = 15000
Registration fee = 500
Road tax (first year) = 1800

Please show me the correct entries in the books

Thank you

Answer Posted / pradeep gunuguntla

Car A/C ..... Dr 67300
To Cash A/c 67300

(Being the car purchased and capitilized expences)

Is This Answer Correct ?    15 Yes 8 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is a difference between public and private accounting?

622


which type of questions did HR Manager ask and what are the answers

1633


What are the steps involved in project implementation?

693


What is the Project Accounting in case of Real Estate or Construction Co`s ?

1921


How do you maintain accounting accuracy?

666






what is ment by suspence account and dummy account

1546


What are the rules for debit and credit for different accounts to increase the amount in your business accounts?

638


What are the advantages of computer accounting over paper accounting?

580


WHAT IS ACCOUNTING HEAD FOR TRADE FINANCE? I HAVE PAID 49268 FOR TRADE FINANCE.WHERE SHOULD I TAKE IN TALLY

1515


Explain a time when you have not met your goal?

598


There is no item category assigned to account

1661


Explain compound journal entry.

565


while preparing insolvency account deficiency account is wich account? why we do not prepare it with general rules?

2842


Do you know what is icai?

649


How to pass the entry in tally for demolished of building?

2184