Wednesday, November 26, 2008

#57 Fixed Asset Acquisition

What are the accounting entries for fixed asset acquisition:

Dr. Fixed Asset
Cr. Cash / Creditors
( Being fixed asset purchased)

What if the fixed asset acquisition is financed via Hire Purchase, what would be the entries then:

D. Fixed Asset
Cr. Creditors

Dr. Creditors
Cr. Hire Purchase Liability


Anonymous said...

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Anonymous said...

What if assets are being used by a new business which inherits it from the desolved business...

Anonymous said...

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