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 .
Answer Posted / santosh swain
In it if we debit to purchase account then their will no
increase in the fixed asset and purchase a/c refers to the
purchase of things/material which the company deals . So we
should not make purchase as the debit account
Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details
What is deferred account?
Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
Define partitioning in accounting?
How do you prepare mis reports?
discuss seperate determination concept
Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
what is opening stock formula?
PROVIDENT FUND TO BE CALCULATED ON BASIC AFTER DEDUCTION OF ABSENTS (LOP)
Please would you provide me with a defenition of Cycle count tolerance ? Thank you
Let me know the liability positions of Partners
Explain what does the standard journal entry includes?
what type account are below Debentures Bank overdraft
What is accounting & why it is used?
Tell us what inspired you to move to the next opportunity?