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 / sourav
The journal entry depends on the following:
1.If the TVs are purchased for a trading purpose,then it
will be:
Purchase A/C Dr. 10000
To Bank/Cash A/c 10000.
(As the Tvs are purchased for Trading purpose then there is
no need to capitalise any TV)
2.If the TVs are purchased for the business and not for
sale,then it will be:
Purchase A/C Dr. 10000
To Cash/Bank A/c 10000
Fixed asset A/c Dr. 1000
To Purchase A/c 1000
(As the TVs are purchased for business purpose therefore
the TV that is installed has been capitalised)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sudha
if it is use his own it's drawing.but it installed in
company.so that's why it is treated as asset.the entry is
purchases a/c dr'computer a/c dr' cash/bank cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / avik
Yes.
The journal entry would be
T.V A/c --------- Dr Rs.10,000 -
To Cash A/c--------Cr - Rs.10,000
(Being 10 T.V purchased @ Rs.1000 /-)
Note: There nothing related with instalation in journal
entries.So definately entry can pass.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / sudhansu dash
Hello All,
Really everything confused,
I can understand from this conversation that, on total 10
no's of TV purchased and out of that one installed. So in
this case 9 TV's are for business purposed and one for
display in the store. Then yes the entry is:
TV (Purchased) Dr. 9,000 (You can earn profit)
TV (Business Used) Dr. 1,000 (For business development)
Cr. Cash / Bank / Supplier A/c 10,000
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / santosh kumar pattanaik
It is a nature of trading business, In that we have
installed one TV.Electronic items like TV, Washing
Machines, Refrigerator, etc., and TV, Washing machines,
Refrigerator are sub-head of accounts under the main head
of account purchases.
So first we have to pass the entry.
TV a/c Dr. 10000
To Cash/Vendor A/c 10000
(Being cost of TV qty 10 nos@ 1000/- vide Invoice/Cash Memo
No._________)
Second entry we have to pass.
Office Equipment a/c Dr. 1000
To TV a/c 1000
(Being installed tv qty. 1 No. in office for Business
Development)
Now your stock will be shown 9 TV.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / anshuk doliya
T.V Purchase A/c. Dr 10000
To Cash A/c 10000
out of one is installed
Installed Dr 1000
To T.V Purchase A/c. 1000
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / jai prakash
DR. T.V. A/C ( FIXED ASSESTS) 10000.00
CR. CASH A/C 10000.00
EXPLAIN : T.V. IS FIXED ASSETS SO T.V A/C DR.
| Is This Answer Correct ? | 4 Yes | 7 No |
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