Interested to Buy Any Domain ? << Click Here >> for more details...
The jouranl entry of purchage of fixed assets are assents
a/c dr. to cash/bank account why we not make journal entry
for this is purchage a/c dr. to cash/bank .
- 9 Answers
- 20552 Views
- Reliance, I also Faced
- E-Mail Answers
Answer Posted / vijayender
First of all, the nature of two accounts is different.
Fixed asset a/c is a real account whereas Purchase a/c is a
nominal account.
Purchases represent expenses and expenses provide benefit
only in the period in which they are incurred whereas Fixed
assets are the things of possession which provide benefit
for a long period of time. So, the nature of two accounts
is completely different.
| Is This Answer Correct ? | 16 Yes | 1 No |
Post New Answer View All Answers
Explain the Invoice verification process
How to group the companies in tally?
Explain the term account payable?
Do you know compound journal entry?
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
List out some of the accrued expenses and the accounts in which you would record them?
what is a difference between public and private accounting?
WHAT IS THE LAST DATE OF HOUSE TAX SUBMITED , AND WHAT IS THE RATE OF HOUSE TAX ?WE PAID HOUSE TAX MCD OR ANY OTHER. PLEASE TELL ME.
what is ment by suspence account and dummy account
how to record the full and final settlement of employee (salary payable,other payable,,....) when he leaves the company ? or how to pass the entry for that ?
Define each Flexfeild qualifiers (natural accounts, balancing acc., secondary tracking, cost center)
What is the distinction between cost accounting and management accounting?
Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?
what are the different types of expenditures considered for the purpose of accounting?
Company ABC split 1:3 on March 31, 2009 and split 3:1 on March 31, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 3000 $75.00 April 23, 2009 $72.00 2300 $72.00 March 31, 2009 $67.00 999 $ March 31, 2008 $275.00 300 $91.66 November 30, 2007 $233.00 6800 $77.66 October 6, 2006 $1,333.00 13000 $444.33
