Purchase of Vehicle on EMI

Suppose I purchased a bike, I paid down payment of Rs 25000/- and the balance in EMI of Rs 2200/- per month. Pass the necessary Journal entry.

Showing Answers 1 - 14 of 14 Answers

Gaurav

  • Dec 3rd, 2015
 

What is the total value of the bike?

aneesh

  • Dec 29th, 2015
 

27200 is the total value of bike

Muhammed

  • Jan 10th, 2016
 

Purchase a/c Dr
   To bank

Lenin

  • Jan 12th, 2016
 

Bank loan A/c Dr 27200
to Cash/Bank 27200
(Down Payment + EMI)

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Taha

  • Jan 14th, 2016
 

Total value of bike is RS 51400. So the first entry will be :
Bike/Purchase .... A/c DR 51400
To C/B ... A/c 25000
To EMI ... A/c 26400
Second Entry :
EMI A/C .......... DR 2200
To C/B ....... A/C 2200
(Being EMI paid)

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kishore

  • Feb 15th, 2016
 

Purchase A/c ........ Dr
To Bank A/c ........ Cr

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Navdeep

  • Jun 29th, 2016
 

Purchase a/c (total value of bike) dr. To cash 25000 to company a/c (remaining amount/emi amount) cr 2200
Company a/c (emi amount)dr to cash

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shivesh jha

  • Jul 18th, 2016
 

cash a/c dr. 20000
dep a/c dr, 9167
to machn ac, 70833

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purusothambabu

  • Jul 29th, 2016
 

Bike a/c.
Dr to cash a/c

(Being bike purchase)

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GOPALA KRISHNAN S

  • Mar 27th, 2017
 

Asset (Motor Bike) A/C
To Cash
To Finance Institute
At the time of payment of EMI
Finance Institute A/C
To Bank A/C

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Avijit

  • Oct 4th, 2017
 

suppose EMI will be 1 year
Vechicle a/c Dr. 250000
To, cash a/c 250000
2. EMI-
Vechicle on EMI a/c Dr. 26400
To, Bank 26400

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deendayal saini

  • Feb 4th, 2018
 

Bike a/c dr Actual value
to cash 25000
to loan actual value - 25000

Loan a/c dr 2200
to EMI 2200

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ARCHANA

  • Feb 13th, 2018
 

VECHICLE A/C DR TO CASH TO EMI

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Sumit M. Panchal

  • Nov 20th, 2018
 

Purchase Ac DR
To Down Payment CR
To Emi CR

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