Partner Zone
Partner Zone

general ledger

This thread is now closed to new comments.
Some of the links provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Highlighted
moha
2 Posts
User
Kenya
moha
User

2Posts

1Kudos

0Solutions

Solved: Go to Solution

general ledger

purchased trucks  for usd 150000, paying usd 120000 cash and giving a 60 day note to the dealer for usd 30000

 

1)prepare genereal ledger account except the retained earnings?

3 REPLIES 3
Ultimate Partner IanChait
1,004 Posts
Ultimate Partner
Australia
IanChait
Ultimate Partner

1004Posts

720Kudos

185Solutions

Accepted Solution Solved Solution

Re: general ledger

Hi @moha

Are you asking for the accounting entry? If purchased trucks for business 

Dr Asset Account - Vehicles   150,000

Cr Bank                                                       120,000

Cr Liability Account - Notes Payable.         30,000

 

I hope this is what you meant.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

moha
2 Posts
User
Kenya
moha
User

2Posts

1Kudos

0Solutions

Re: general ledger

Hi ianchait,

 

Thank you........if i may ask what do you mean by ct 30000

Ultimate Partner IanChait
1,004 Posts
Ultimate Partner
Australia
IanChait
Ultimate Partner

1004Posts

720Kudos

185Solutions

Re: general ledger

Hi @moha

 

Should be Cr 30,000.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post