comapny paid expense on behalf of other after due date , it recieved it, which

comapny paid expense on behalf of other after due date , it
recieved it, whichb type of entry company do in accounting?
expense claims comes under personal account, real cccount
or other?

Question Posted / guest

2 Answers
7461 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

comapny paid expense on behalf of other after due date , it recieved it, whichb type of entry comp..

Answer / ayoub husse

Dr expenses eg Fine and Penalt
Cr third party to be paid

Dr Third party
Cr cash/bank

Send a debit note if the company is creditor to you or a credit note if is a debtor

Debit note
Dr company ie you have paid on it's behalf
Cr expenses eg fines and penalts

Is This Answer Correct ?

0 Yes

0 No

comapny paid expense on behalf of other after due date , it recieved it, whichb type of entry comp..

Answer / lijo jose

If the company paid amount on behalf of another then its an expense fro the company and at the same time it is to be receivable from him.journal entry is
cash a/c Dr.
To Party's a/c

Is This Answer Correct ?

5 Yes

8 No

Post New Answer

More Accounting AllOther Interview Questions

What is specific reserve

0 Answers

1. WHAT DOES SALES ON THE DEBIT SIDE OF A TRAIL BALANCE MEAN AND WHAT IS THE TREATMENT IN PREPARING TRADING PROFIT AND LOSS ACCOUNT. 2. IS IT POSSIBLE TO HAVE SALES ON THE DEBIT SIDE OF A TRIAL BALANCE.

1 Answers

what is suspence capital?

9 Answers Capital IQ,

Rectification entries.

1 Answers Franklin Templeton,

Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance

0 Answers

what are the certificates needed at the time of SBI clerical interview?

0 Answers ICICI, State Bank Of India SBI,

What is mean by account receiveble and account payable how it will goes to upto finalazation.and wher it will papper in accounts books.and wher it well be apper in accounts books can you tell for my accounts interview perpose.

4 Answers Essar,

Received a cheque of Rs 75000/- from Kirthi traders on behalf of anurag traders for material supply

Expand ________DMT

Expand CTD

What is TDS?

what is meant by Tangible assets intangible assets

5 Answers Bajaj,

For more Accounting AllOther Interview Questions Click Here