Here is a question i was asked below is the scenario need
to enter journal entrries for both accounting system Cash
and Accrual
:-
1) Landlord A/c
2) Tenant A/c
3) Bills Receivable A/c
4) Cash A/c
5) Bank A/c
Situation:-
1) Bill is created.
2) Bill is sen to the tenant, journal entry =?
3) Cash is received from the tenant, journal entry=?
4) Receipt is created.
5) Receipt is sent to the tenat, journal entry=?
Its urgent, please help.
- 2 Answers
- 4920 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
in the book of landlord
bill is created & sent
1.)tenant name a/c.........dr
to rent (income)a/c
cash is received from tenant
2.)cash a/c ......dr
to tenant/name a/c
in tenenats book
3.Rent A/c. Dr
Rent Payable A/c
4. Rent payable A/c. Dr
Cahs Bank A/c.
| Is This Answer Correct ? | 0 Yes | 1 No |
sir i am working in construction company.we have more than one projects.i enter the attendance projectwise in payroll.if payroll autofill i want project wise salaries not overall
what is journal entry in the transferee company book in the case of amalgation
Difference between outstanding income and accrued income?
journal entry for goods withdrawn for personal use
what is real account and its advantages
What is treasury operation..? How does it work..?
Explain what knowledge should financial accountant have?
What is account receivable?
SALES BOOK IS A PART OF
Is bank charges in accounting a direct expenses or indirect expenses
Do you think there is any difference between inactive and dormant accounts?
what is share application money pending allotment?
Audit 
