Interested to Buy Any Domain ? << Click Here >> for more details...
I have received 75000/- as retainership fees from ABC company but they
have deducted TDs 10% and send me 67500/- my question is that what
entry i have to pass in my books please help me
- 5 Answers
- 8216 Views
- Pharma Traders, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 ? | 7 Yes | 1 No |
Answer / imran shaikh
ABC Company A/c Dr : 75000
To Cash/Bank 67500
To TDS A/c 7500
| Is This Answer Correct ? | 9 Yes | 5 No |
When earning is due
ABC co DR 67500
TDS DR 7500
Retainership fees CR 75000
When Received
Retainership fees DR 67500
ABC co CR 67500
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / r kavitha
Retainership fees - Rs. 75000 Dr Cr Tds Rs. 7500/- Bank - Rs.
67500/-
| Is This Answer Correct ? | 1 Yes | 2 No |
Explain about the accounting software "SAP" and discuss its advantanges.
My gross salary is 12,000/-P.M & due to less working days gross salary becomes 8,000/-P.M will ESI come as my gross is less than 10,000/-P.M
what are the nationalised banks?
what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement
Purchase returns?
Wht is the differance between Trade discount and cash Discount?
What is Differed revenue expenditure?
8 Answers Capital IQ, Genpact,
what's mean of capital reserve and reserve capital
Is it mandatory having Knowledge of auditing to an accountant ?
how many types excise audits and when they are applicable to firm
Sir, Please tell me what diesel is direct/indirect exp.
i wana give an interview as sr. excise officer what r the question will asked by interviewer ??? Please suggest me so I can clear inteview.thank u
Audit 
