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
- 1 Answers
- 3326 Views
- I also Faced
- E-Mail Answers
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)
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
state (5) accounting concepts and give 1 example of each
What is accounting & why it is used?
What does an accurate trial balance suggest?
what is the journal entry can be passed for an opening balance (bank, fixed asset, provisions)to the new software
what is the basic difference between pooling of interest method and purchase method in amalgamation
what are doucement required under registration of properity firm. give the answer breif
What does overhead mean in regards to accounting?
What is meant by balancing?
Account for letter of credit in the books?
What steps would you take to locate the errors in case trial balance disagrees?
Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.
purchase plant and machinery
suppose we received goods from H.O.The sisterconcern received it.wat will be the entries if tge S.C.sells it from here.
what will be the entry for inventory
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
