Ledger Question: Download Ledger 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
| Previous Question | Next Question |
| Tell me what is the process flow for general ledger? | Are reconciliations part of financial statements? |