If a paid to b rs.1000 on behalf of c what is the entries in
The books of a,b,c pls pass the entries
Answers were Sorted based on User's Feedback
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
Is This Answer Correct ? | 188 Yes | 41 No |
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)
Is This Answer Correct ? | 50 Yes | 27 No |
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
Is This Answer Correct ? | 18 Yes | 5 No |
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
Is This Answer Correct ? | 11 Yes | 3 No |
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
Is This Answer Correct ? | 7 Yes | 1 No |
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
.
Is This Answer Correct ? | 3 Yes | 1 No |
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
Is This Answer Correct ? | 19 Yes | 45 No |
define accounting?
how to account the purchase and sale of fixed assets?
Every year very huge amount of depreciation debited at any of company's account, which is actually non cash expense, now where actually amount goes at the year end?
What are the financial instruments used in share market..?. Hope securities called as one of financial instrument. Your answer will be appreciated. If any link are given related to this apart from this, it would be highly appreciated this. Thanks in advance.
Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
Accounting Questions
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
please tell me the 'R2R' interview questions and answers ?
1 Answers Accenture, Dr Reddys,
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
what is the difference between accounting and finance?
I select in Vendor Master - in defualt data material - Purchasing Group as a Subcontractor but how to get report or list only Subcontractor Vendor Master in sap?
What is accounting transaction?