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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.
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Answer / pramod sahu
B Ledger Account
1. Bank/Cash A/c Dr. Rs.50,000.00
Vendor A's A/c Cr. Rs.50,000.00
2. Vendor A's A/c Dr. Rs.25,000.00
Sales/Service A/C Cr.25,000.00
3. Vendor A's A/c Dr. Rs.25,000.00
Bank/Cash A/c Cr. Rs.25,000.00
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / gunjan
A dr 27500
To B/P 27500
B/P Dr 27500
To Bank 27500
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / gunjan
A dr 27500
To B/P 27500
B/P Dr 27500
To Bank 27500
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sourabh dudeja
Dr Cr
Expenses 25000
To Bank 25000
Dr Cr
A a/c Dr 25000
TDS a/c cr 2500
To Bank a/c 22500
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / p. vedha
IN B'S BOOK
vendor A a/c 24500
tds a/c 500
to cash/bank 25000
therefore B should settle Rs. 49500/- to A
| Is This Answer Correct ? | 0 Yes | 3 No |
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