Accounting entry for car purchase
This query is : Resolved
31 March 2018
Dear Sirs,
Please Suggest for accounting entry for the following details in compliance with applicable (AS and laws)
Ex showroom price of Car 13,80,967 (After TCS Deduction @ 1% Rs. 13672.94)
Life tax 1,42,000
Insurance charges 44885
Processing fee and stamp duty for obtaining car loan from bank 3221
Accessories 15000
Other handling charges 1000
Please Suggest for accounting entry for the following details in compliance with applicable (AS and laws)
Ex showroom price of Car 13,80,967 (After TCS Deduction @ 1% Rs. 13672.94)
Life tax 1,42,000
Insurance charges 44885
Processing fee and stamp duty for obtaining car loan from bank 3221
Accessories 15000
Other handling charges 1000
13 May 2018
Car A/c Dr 15,73,400
TCS A/c Dr 13672.94
To Creditor 15,87,072.94
TCS A/c Dr 13672.94
To Creditor 15,87,072.94
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