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can anyone give the journal entry with the amount
10 tv bought in the business for 1000 each, out of which
one is installed.
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Answer / manjit mishra
hi dear
purchase a/c dr 10000
to cash / party name cr. a/c 10000
( being 10tv @ 1000each purchase)
its purchased for business not for used in office
so it is not fixed asset b,coz it is for sale pur
next entry from store ledger
it is mention in stock ledger in 1 tv was installed
ok
by
manjit mishra
| Is This Answer Correct ? | 3 Yes | 2 No |
Dear Mithun what made u to bring capital into account. It
is a purchase made for trading. out of which one is taken
for Display in the shop. So it is to be taken as asset.
dont be hasty in making transactions. Think twice or thrice
before you answer.www.therealaccountants.com
| Is This Answer Correct ? | 5 Yes | 5 No |
Answer / manish vatsaya
purchase A/c --Dr.9000
Fixed Assets T.v a/c 1000
To, Cash/Bank/Vendor 10000
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / chamarthy
the answers given by above friends like Ms Swetha Reddy, Uma
& krishna etc are correct., otherwise it can be taken as
First 10 TVs brought for business (for trading)- hence
Purchases (TV)a/c. dr 10000
To cash/bank/Party a/c 10000
Out of this, next - installed 1 TV for business.
Fixed Asset (TV) A/c 1000
To Purchases (TV) 1000
(Out of 10 nos 1 installed for business (asset)
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / omer bin ali al jabri
purchase a/c dr
to cash a/c
(being tv bought into the business for cash)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / vipin jain
purchase of t.v a/c 9000(its a part of trading a/c)
t.v a/c 1000(b/s mein asset side FIXED ASSET
MEIN)
TO cash/party name 10000(B/S MEIN)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kumardeepak.009@gmail.com
Well, This is little Difficult.
TVs are to be treated as Fixed Assets as these are
purchased for office staff, to reduce their work
Frustraction. But Out of Ten, Only One has been installed,
Only One TV can be Capitalised. Other are lying in stock
and may not be capitalise till those gets intalled.
So What I think,
1. Purchases (TV) A/c 10000
to Cash/Bank A/c 10000
2. Fixed Assets A/c. 1000
To Purchases A/c 1000
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / dipak singh
TV A/c. Dr. 1000.00
Stock In transit A/c. Dr. 9000.00
To Cash or vendor A/c. Cr. 10000.00
(Becouse 9 tv yet to installed but we have allready
purchased the thing, so we can show 9 nos. of tv SIT & out
of which one entered in the assets.)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / arun
we can capitalised the fixed assets in the books of
accounts immdiaitely but we can charged depriciation only
for one TV. entry is
Fixed assests(Tv)dr 100000
To vendor/cash 100000
| Is This Answer Correct ? | 0 Yes | 0 No |
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