Pls. tell me any body , in my company we are paying emi for
systems how the value take for computers & how to book a
j.v for above transactions
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Answer Posted / prashant
lets assume you have bought computer systems for Rs. 50,000
from ABC Ltd on 10 EMI of Rs. 5000
entries to be pass are
1)
computer A/c (Fixed Assets) Dr. Rs. 50000
To ABC Ltd Rs. 50000
(being purchase of Computer)
2) while making emi payment entry to be pass
ABC Ltd A/c Dr. Rs. 5000
to Cash/ Bank A/c Rs. 5000
(being 1st out of 10 emi paid for purchase of computer)
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