Fixed assests accounting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2013 if assets (tipper purchase in loan of director and invoice in the name of company than what shold be possible solution in relatio to accounting ?

CA Bhushan Bhagwat Bharambe

CA Bhushan Bhagwat Bharambe (Expert)
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07 August 2013 Dear ,

Please try to elaborate the query or is it situation as follows.

1. Loan Taken from Director by Company
2. Tipper Purchase by Company out of Loan from Director

or

1. Loan Taken in name of Director , emis paid by company
2. Loan used by company to purchase Tipper for company

please elaborate or confirm

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 August 2013 if paid by director for company use then mention in books of co. for asset purchase but corresponding entry in directors loan a/c needs to be passed.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2013 Loan taken by Director and Assets purchase i mean invoice is in the name of company.

Company want to pay installment amount

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 August 2013 then adjust in loan a/c of director as i advised above.