two wheeler loan reg

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2010 Dear Sir,
I need one doubt,one company was purchase vehicle against bank loans ,how to pass the journal & payment entry

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2010 two wheeler add to capital goods or not

CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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31 December 2010 Two wheeler bought by taking loan need to be capitalised to its full value.

Entry

Two wheeler.......Dr
To Loan A/c

For Installment payment.

Loan A/c (Principal portion)...Dr
Interest (Interest portion)....Dr
To Bank/Cash

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Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2010 SHOW ROOM
U DONT MENSION SIR

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2010 VEHICLE VALUE :28353
LOAN AMOUNT :17000
COMPANY PAID :11373

HOW TO PASS THE JOURNAL ENTRY,SHOW ROOM ANYTHING COMES UNDER THIS POSION