Ledger Question: Download Questions PDF
Tell me how would you account for the leasing of a vehicle?
Answer:
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
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
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