Answer / navneet goyal

In books of A - C's A/C Dr. 1000
To cash A/C 1000

In books of B - Cash A/C Dr. 1000
To C's A/C 1000

In books of C - B's A/C Dr. 1000
To A's A/C 1000

Answer / saurabh malik

In the books of A:

B A/c Dr. 1000
To Cash A/c 1000
(Being cash paid to B)
--------------------
C A/c Dr. 1000
To B A/c 1000
(Being paid to B on behalf of C)
--------------------

In the books of B:

Cash A/c Dr. 1000
To A A/c 1000
(Being cash received from A)
------------------------
A A/c Dr. 1000
To C A/c 1000
(Being paid by A on behalf of C)
------------------------

In the books of C:

B A/c Dr. 1000
To A A/c 1000
(Being B paid by A)

Answer / shankar goshika

A books,
So.no Particular. Dr. Cr
1). B a/c 1000. -
To Cash 1000
2). Reclassification entry
C a/c. 1000.
To B 1000
3) Once A received payment from C
Cash a/c 1000
To C. 1000
B books,
1) cash a/c 1000
To A 1000
2). Reclassification entry.
A a/c 1000.
To C. 1000

C books,
1 B a/c 1000
To A. 1000
2) Once make the payment to A.
A a/c 1000
To Cash 1000

Answer / balaraj d s

In books of A - C's A/C Dr. 1000
To cash A/C 1000

In books of B - Cash A/C Dr. 1000
To C's A/C 1000

In books of C - B's A/C Dr. 1000
To A's A/C 1000

Answer / amit kumar das

Entry pass in A books
C A/c dr 1000
to cash cr 1000
cash paid to b behalf on c
receipt
Cash a/c dr 1000
to c A/c cr 1000
being cash received against payment ot b

in the books of b

cash A/c dr 1000

c A/c Cr 1000


in the books of c

B A/c dr 1000
A A/c cr 1000
being amount paid to b

payment

A A/c Dr 1000
cash a/c cr 1000

amout paid payment to b behalf of us

Answer / jayesh eay

A is paying to B , on behalf of C.
Therefore in the books of A

1) B's a/c ....Dr ( Receiver)
To Cash/ Bank..cr ( Cash out )

2) Need to reclass the previous entry , because he is not paying for himself . He is paying on behalf of C. So it is like an advance to C., hence
Reclass journal
2) C's a/c .....Dr
To B's a/c......cr

In the books of B

1) Cash/ Bank .. A/c ........Dr
To A's. a/c.......,.............cr
( Being Cash received from A)

Again similarly B would also need to reclass as the payment is not from A, it is from C, hence

2) A's a/c ..........Dr
To C's a/ ...........Cr


In the books of C.

C's liability has reduced for B, ( As the payment was made ) similarly C's liability has increased towards A( As A paid is as an advance towards C)

Hence by the American Golden rule .
Liability increase .....Cr
Liability decrease Dr

1) B's .....a/c ..........Dr
To A's a/c .........cr

Thanks

.

Answer / ak091

If A pays Rs. 1000 to B on behalf of C here are the journal entries.
in the books of A ( he paid to B but he has account of C in his books and after paying on behalf of C, he has to knock of C's account )
C A/c Dr 1000
To Cash A/c 1000
In the books of B (he received from A but he has account of C in his books and post this receipt on behalf of C, he has to knock of C account)
Cash A/c Dr. 1000
To C A/c 1000
in the books of C (A is his debtor and B is his creditor in the books, hence after payment these account must have to be settled)
B A/c Dr. 1000
To A A/c 1000

Answer / ishwar singh

In the book of c
C' a/c dr
To A's a/c

Answer / prathi

A is paying to B on behalf of C so the entry is
in books of A
B's A/C Dr. 1000 Expenses is Dr.
To Cash A/C Cr.1000 Cash is going out Cr.
( Being A paid to B)

in books of B
Cash A/C Dr. 1000 Cash is coming in Dr.
To A's A/C Cr. Cr. the giver

In books of C
A's A/C Dr. Expenses is Dr.
To Cash A/C Cr Cash is going out Cr. from
C's a/c

Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

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