If vendor is deducting TDS amt while paying, how to pass
entry inbooks. Will it be TDS recoverable/TDS payable a/c.
kindly clarify
Answer Posted / bijender
When Vendor deducting TDS. TDS Payble A/c will be credited
and A/c Head will be Debited.E.g. M/s GML is paying 7840 as
jobwork changes to M/s Kundan & sons and dedcuting 160 as
tds.Entry will be as follows:
Job Work A/c 8000
To TDS Payble 160
To Kundan & Sons 7840
While Paying amount
Kundan & Sons 7840
TDS Payble 160
To Cash/Bank 8000
Is This Answer Correct ? | 10 Yes | 1 No |
Post New Answer View All Answers
What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.
Which forms in use in service Tax, Excise duty and Vat for the return.
simply define shares and debentures
Volga is a large manufacturing company in the private sector. In 2007 the company had a gross sale of Rs.980.2 crore. The other financial data for the company are given below: Items Rs. In crore Net worth 152.31 Borrowing 165.47 EBIT 43.17 Interest 34.39 Fixed cost (excluding interest) 118.23 Calculate: a. Debt equity ratio b. Operating leverage c. Financial leverage d. Combined leverage. Interpret your results and comment on the Volga’s debt policy
what are the disadvantages of back-flush accounting?
how to get a job in stock markets for MBA-FINANCE?
We bought some machines from Singapore (capital goods), payment made in rupees. but the invoice value is mentioned as USD. 1. party ledger shows (debit side) amount in rupees. now i need to make purchase entry. 2. shall i want to convert USD to rupees? 3. if i do like that the party ledger will be differ.. 4. somebody pls tell me the way to make purchase entry.
Tell me in accounting, how do you define premises?
iv, A non -performing asset is A, Money at call and short notices b, An asset that ceases to generate income c, cash balance in till d, none of the above
Who owns the general ledger?
X, PURCHASE HOUSE PROPERTY IN 2005, RS 400000,AND SALE IT IN2010, RS 1800000,IF X HANDICAP, AND IN 2008 MADE SENIOR CITIZON, HOW CALCULATE IT?
Tell us what kind of work environment do you prefer?
Mention in simple terms what is the difference between asset, equity, and liabilities?
Sir, we have investment shares some company how to calculate gain/loss please send format brefly fifo, lifo and average method
Explain me bills receivable?