we are going to purchase of new office. what is accounting entry for it if we

we are going to purchase of new office. what is accounting
entry for it if we made adv to party , some part payment
paid to party. pls tell me & under which group ledger will
come

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we are going to purchase of new office. what is accounting entry for it if we made adv to party , ..

Answer / rose

Purchase(Office) A/c----Dr
To Advance Cash/Bank A/c-----Cr
To Party A/c---------CR
(Being Part pymt made for Asset purchase)

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5 Yes

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we are going to purchase of new office. what is accounting entry for it if we made adv to party , ..

Answer / toms thankachan

Just create a ledger in the name of the party under sundry
creditors/ Bills payables.

Make an entry for the payment
Vendor a/c.... Dr
to Bank.

when you done the deal the entry follows

bldg.....Dr
to Vendor a/c

When the payment made in full
Vendor a/c.....Dr
to Bank

Is This Answer Correct ?

3 Yes

0 No

we are going to purchase of new office. what is accounting entry for it if we made adv to party , ..

Answer / azhar

capital work in progress a/c dr
To vendor a/c

when full payment is made entry will be
vendor a/c dr
To cash

Is This Answer Correct ?

2 Yes

6 No

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