Interested to Buy Any Domain ? << Click Here >> for more details...
I have received 75000 as retainer ship fees from ABC company what was the
journal entry I have to pass in my books
- 3 Answers
- 9156 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / spv@bsl
While raising the bill you have to Dr to ABC Co. and Cr. to
your receipt account
while receiving the fee against above bill Receipt account
(income) a/c Dr and Credit to ABC co.
Income a/c Dr
To ABC Co Cr
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / yogendra.c
In Your Books (Receiver)
------------------------
1.Provision Entry:
ABC Company A/d Dr. - 75,000
To, Retainership Fees A/c - 75,000
2.Receipt Entry:
Bank A/c Dr. - 67,500
TDS A/c Dr. - 7,500
To, ABC Company Account. - 75,000
3. Books Closing Entry:
Retainership Account Dr. 75,000
To, Profit & Loss A/c 75,000
In the Books of ABC Company Limited
-----------------------------------
1.Provision Entry:
Retainership Fees A/C Dr. - 75,000
To, TDS Payable A/c - 7,500
To, Retainership Fees Payable A/c - 67,500
2. Payment Entry:
Retainersihp Payable A/c Dr. 67,500
TDS Payable A/c Dr. 7,500
To, Bank Account - 75,000
3. Closing Books Entry:
Profit & Loss Account Dr. 75,000
to Retainership Account. 75,000
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / pavani
cash a/c..... Dr
To retainer ship fee a/c
( beins retainer ship fee from abc company)
| Is This Answer Correct ? | 1 Yes | 0 No |
Give 15 examples for real and nominal accounts
what is the journal entries of payable?
what is journal entry for the credit sales and purchases
Do is it proper fo an engineer to head a bank without a good backgroud in accounting? ?
3- Does petty cash book link to cash book, explain?
Mutual Funds
WHAT IS THE ENTRY FOR BOOKING PROVISION...? IS IT COMPULSARY FOR BOOKING PROVSION IN ACCOUNTING?
Does paid up capital include Advace against Capital or Calls in Advance for calculating Networth of A company
A sole trader run a business, and he takes every month fixed salary, he says this salary should not be affect in profit and loss a/c, he wants this salary transfer to his capital a/c, means he wants increased his capital - My question is as per the accounting system is it possible?
Is financial accounting necessary?
Tell me how can you explain the basic accounting equation?
FROM WHERE I WILL GET PREVIOUS QUESTION PAPER OF JUNIOR ACCOUNTS OFFICER TEST OF B S N L
Audit 
