Interested to Buy Any Domain ? << Click Here >> for more details...
If ABC security service provider monthly bill for the month
of Jan is Rs.2,00,000/- including TDS 2% and Service Tax
12%, Edu.Cess 2% and SHE Cess 1% what is the journal entry.
- 3 Answers
- 12572 Views
- ABC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ziya anjum
there will be only one entry
that is
ABC secu.ser A/c ---Dr 170000
Service Tax A/c ---Dr 24000
Education Cs A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To Bank/Cash A/c ---cr 196000
OR
1st Entry should be
Security Service charges A/c ---Dr 194000
Education cess A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To ABC Security Serv ---Cr 196000
2nd Entry should be
ABC Sec.Ser A/c ---Dr 196000
TDS Payable A/c ---Dr 4000
To Bank/Cash ---Cr 200000
plz correct me if i wrong.
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / pothuraju
ABC secu.ser A/c ---Dr 174886
Service Tax A/c ---Dr 20986.3
Cess A/c ---Dr 630
To TDS Payable A/c ---Cr 3497.726
To Bank/Cash A/c ---cr 93004
How service provider will deduct TDS?
plz correct me if i wrong.
(here partial payment under service tax also applicable ser provider 25%,
Ser receiver 75%)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / muna
1st entry:
ABC Security Rs.2,24,720/ Dr.
To Service Tax Rs.24,000 Cr.
To Security Service Rs.200000/-Cr.
To Edu. cess Rs.480/-Cr.
To SHEC Rs.240/-Cr.
2nd entry:
TDS Recoverable Rs.4000/- Dr.
Cash /Bank Rs.220720/- Dr.
To ABC Security Rs.2,24,720/- Cr.
| Is This Answer Correct ? | 4 Yes | 7 No |
what is the purpose of preparing Bank reconciliation ?
in terms of accounting the trial balance when is it taken?
What is general entries for Deffered Tax?
What are the steps to take before you approve an invoice for payment?
Contents of a Balance sheet
What are the expenses comes uner direct exp
How to post salary advance transfer from one branch to another branch ?
what is the meaning of Bills Receivable?
What is the Basics of Bank Reconcialiation ?
what is surcharge on vat? is it refundable or not?
How can do it TDS in accounts?
What is fair value accounting definition?
Audit 
