Answer Posted / inderjeet

even cash withdrawal from bank or cash deposit in bank
will always contra entry

example deposit cash into bank 10000/-
entry:
bank dr.10000/-
cash cr.10000/-
its contra entry.

withdrawal from bank 10000/-
cash dr.10000/-
bank cr.10000/-

also contra entry

where we have file E-returns in SAP FICO-CIN/Wtax?

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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.

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legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?

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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited

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