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 Audit interview questions  Audit Interview Questions (428)
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4372)
Question
Please let me know the journal entry for the below.

"A" paid Rs.100 to "C" on behalf of "B"
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
In the Books of A

B A/c Dr. 100
To, Cash 100

(C is just a third party, Receiving the money on hehalf of
B. As in the books of A there is no out standing against C
but it is against B)

In the Books of C

Cash A/c Dr. 100
To, B A/c
(In ths books of C it must be receivable from B, so B must
have said to A, that the money which you owe to me please
pay directly to C

In the books of B

C A/c Dr. 100
To A A/c 100
(paid by A to C)
 
Is This Answer Correct ?    31 Yes 1 No
Keyul Gandhi
 
Answer
# 2
in "A" BOOKS

'B' A/C DR.
TO CASH A/C
(AMOUNT PAID TO 'C' ON INSTRUCTION OF 'B')=SHORT NARATION
 
Is This Answer Correct ?    2 Yes 0 No
Madhusudan Chauhan
 
 
 
Answer
# 3
B a/c dr 100
To cash a/c 100
(Being paid to C on behalf of B)
As per the instructions we paid to c we need not debit C in
our books of accounts
 
Is This Answer Correct ?    1 Yes 0 No
Satyaki_raju@yahoo.com
 
Answer
# 4
B's A/c DR. 100
TO CASH A/C 100
(BEING CASH GIVEN TO "C" ON BEHALF OF "B")
 
Is This Answer Correct ?    0 Yes 0 No
Rohit Ajay
 
Answer
# 5
than the entry will be

B a/c Dr for Rs 100/-
And C a/c Cr for Rs 100/-

because you are asking for journal entry according to this
journal entry the liabilities of party b has been end and
the liabilities of c has been arise than now we can pay
C a/c Dr 100/-
Cash 100/-
 
Is This Answer Correct ?    0 Yes 0 No
Mohd Kadir
 
Answer
# 6
although C is also involved in this transactions,however
it`s not going to make any difference in this particular
transaction.refrence of C can be given in narrations while
passing such entry.
B Dr. 100
To Cash 100
(being rs.100 paid to C on behalf of B)

another way of dealing this transaction is as following..

(1) C Dr. 100
To cash 100

(2) B Dr. 100
To C 100

the ultimate effect is
B Dr. 100
To cash 100
 
Is This Answer Correct ?    0 Yes 1 No
Rahul Dixit
 
Answer
# 7
C Account dr 100
TO B Account100
 
Is This Answer Correct ?    2 Yes 16 No
Spsiva.mba
 

 
 
 
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