| |
GeekInterview.com > Interview Questions > Accounting > General Ledger
| Print | |
Question: How would you account for the leasing of a vehicle
Answer: As a sole trader you require a vehicle to trade and decide to lease the vehicle rather than purchase it, how would you account for it in the company accounts and what nominal would you use? |
| September 09, 2008 07:41:00 |
#1 |
| rathorevinod |
Member Since: September 2008 Total Comments: 1 |
RE: How would you account for the leasing of a vehicle
|
Vechicle a/c dr-FA
To lease agreement a/c-Liabilitie
lease a/cdr-indirect exp
To cash/Bank-current assets
expense off the payment of lease from th p&l a/c
|
| |
Back To Question | |
