Interested to Buy Any Domain ? << Click Here >> for more details...
hello friends i like to know journal entry for one loan
transaction ie if you purchase a car for EMI with initial payment
how to make first entry & monthly entry any thing is there? pls
reply to me.
- 2 Answers
- 14124 Views
- I also Faced
- E-Mail Answers
Answer Posted / jitu
if you are a sole proprietor and not selling the cars car
is your asset so your first entry should be car account
debit and creditor from whom u purchase car account
credited and cash account credited for initial payment.
after that creditors name is debited every month and your
bank from which you are getting emi is credited.
| Is This Answer Correct ? | 13 Yes | 0 No |
Post New Answer View All Answers
what are the extraordinary items?
How time sheets are maintained?
How can you made payment when bill come from vendor, what is the bills have you check.
What are the steps involved in project implementation?
What is bad debt expense?
DIFFERNCE BETWEEN RESERVE AND FUND?
what is the basic difference between pooling of interest method and purchase method in amalgamation
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
is we can prepare any account for partnership in tally
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
How to prepare HSD statements in tally
what is revenue recognition rule, and can you specify the answer.
What is meant by public accounting?
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
Explain me the basic accounting equation?
