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Journal Entry

Accountancy

If i take any asset suppose a car on rent basis for one month will there be any journal Entry passed??

Prathmesh kharul

CA Foundation

★ 3K+

21-Aug-22 15:01

373

Answers (3)

Best Answer

In this case we are not purchasing any asset (i e) car ... We are taking only on rent basis You can do the journal entry only for rent of the car ..... That enrty has been mentioned above by our seniors in above answer. Thank you :)

Balachandar S

CA Inter

★ 59K+

21-Aug-22 16:47

journal entry will be passed for rent paid.Only for asset purchased,we will pass journal entry

Shankari C

CA Inter

★ 12K+

21-Aug-22 15:26

yes rent enty rent ac dr to cash\bank ac

Elavarasi B

CA Inter

★ 46K+

21-Aug-22 15:50