A is vendor of B. B owes him 50000/-. A asked B to conduct
an event on his behalf and the expenses incurred by B was
25000/-. A issued a credit note in favour of B in full ,
stating that TDS done @10% on 25000/-. Now , B has to settle
A's balance.
1.Entries in the books of B
2.How much B repaid to A for settlement and the Entry in his
books.
- 5 Answers
- 5345 Views
- CTPL, I also Faced
- E-Mail Answers
Answer Posted / gunjan
A dr 27500
To B/P 27500
B/P Dr 27500
To Bank 27500
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
how go make jaggery sales and purchace bill in tally 7.2,jaggery lumbs comes in different weight not fixxed weight and i want stock in lumbs and bill amount in rupees (exp.lumbs/weight/rate/amount-1000/102.50/2500/256250)
if company having a loss consecutive last more than 2 years, Depreciation on equipment should be appear in profit and loss a/c or pass the provision entry every unless company not recover profit. Please explain.
Define retail banking?
What is the acceptable accounting procedure when an error is detected in a general ledger account? Explain why such a procedure is followed?
How will I post entries to Tally If I purchased a Car in Loan. The principal Amount = 62930 Interest = 6846 Total = 69776 We have to pay Rs 1191 every month for 4 years which include Principle amount and interest. how can I post the monthly entries to tally
1. The following data is available. Determine the Break Even point in Sales: Sales : $1,800,000/- Fixed Expenses : $ 375,000/- Variable Expenses : $ 1,200,000/-
What are the uses of journal in accounting?
Explain have you ever prepared mis reports and what are these?
if I m taking a loan from bank of AED 20 lakhs @ 10.25% per annum for 10 years how much amount as intrest I need to pay in this 10 year period of time to bank.
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
What is the logic behind this entry P & L Appropriation A/c ..........Dr. To Provision for income tax A/c
WHAT ARE THE MOST ELEMENTS OF YOUR JOB?
How does accounting contribute to the community?
Define balancing in accounting?
What are mis reports and do you prepare it?
