CA Rajesh Keshri (CA) (175 Points)
16 June 2011
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
for downpayment
party ac - - -- - - - - - dr,
to cashl bank
(being advance for fixed asset given)
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
when fixed asset is purchased
fixed asset ac - - - - -- - - - - - - dr.
to party ac.
to bank ac.(loan)
(being asset purchased and loan taken)
note- bank is credited because in case of loan bank give the payment directly to dealer
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
when emi is paid
bank(loan) ac- - -- - - - - - dr.
to cash
(being emi paid)
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
for interest due
bank interest ac - - - - - - dr.
to bank(loan) ac.
(being interest due)
note- this amt. will be taken from bank statment
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 16 June 2011
Fixed assets( CAR) a/c dr ................
to cash / bank a/c ....................................................... ( down payment).
to Loan from bank ...................................................... ( loan amount)
........................................................................................................................
Loan from bank a/c dr ...................................
to Cash / Bank a/c .................................................................................... ( EMI payment)
..........................................................................................................................
Interest on Car Loan .......................................
to Loan from Bank ................................................................................... ( Interest debit during the year , take annual statement)
CAclubindia
