Interested to Buy Any Domain ? << Click Here >> for more details...
What is the journal entry for paying 50000 rs. To xyz co.
For professional fees after deducting tds on that.
- 7 Answers
- 32795 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / soyab
professional Fees A/c Dr 50000
TO TDS Payable 50000
To XYZ Company 45000
XYX Company A/c Dr 45000
To Cash / Bank Ac 45000
TDS Payable XYZ Comapny DR 5000
To Cash / Bank A/c 5000
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
Where a cash discount should be recorded in a journal entry?
What is the TDS rate in Maharastra, Tamil Nadu, Karnakata,Odisha & West Bengal. What is about Profession Tax.
When Tds is applicable to deduct and wht is rate for different work panel?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
Cash bill of sale so the company can deduct the amount.
Tell me what is the difference between accumulated depreciation and depreciation expense?
what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok
Assuming that a firm pays tax at a 50 per cent rate, compute the after tax cost of capital in the following cases: I. A 8.5 % preference share sold at par. II. A perpetual bond sold at par, coupon rate of interest being 7 per cent III. A ten year, 8 percent, Rs.1000 par bond sold at Rs.950 less 4 percent underwriting commission.
What are the effects of international accounting standards on accounting practices of developing nations?
What is the equation for acid-test ratio in accounting?
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
What is fiduciary accounting?
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
Why do you want to be an accountant?
we have registered to MCCIA(Maratta Chember of Commerce Ind & Agri.).They given a Tax Invoice against this registration with charging service tax@10.3%.can we take credit of this service charge ?
