Interested to Buy Any Domain ? << Click Here >> for more details...
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
- 7117 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
professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally
Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
Let me know the liability positions of Partners
Cello pen gross value is 935.89 for 12 nos 14.5% tax
sir, i want t know, i got a cheque frm sindhu (that amount i gave her as rent advance, she is returning nw) bt the cheque has cancled and bank take cheque return charges so plz give this journal entries.
purchase return liability or asset?should it be included in the balanced sheet?
Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
How much mathematics knowledge is necessary or required in accounting?
What is quality discount?????//// pls mail ur answers at my e - mail ID : kamalsodhi24@gmail.com
Tell me in which account does the unpresented cheque will get recorded?
Explain me scrap value in accounting?
Please give me as example of service tax & Vat Posting through Tally.
How can I put Bank Guarantee Receipt entry in Tally ERP9?
what s account
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
