Company A has purchased goods worth Rs. 25000 from company B and made the cash payment of Rs 5000 and remaining will be payable with in 30 days. Assume that there is a late payment charge @ 2% on remaining amount as the invoice was received after due date from company B. Pass the journal entry in the books of company A for all the above transactions.

1 Answers   SSPL,

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Suppose a person is paid @ Rs.1 Lac Per Month for 2 months by the Owner/Director prior to the Company's incorporation for Managerial work and that person continues to work with the Company . Is the Director liable to deduct TDS on his Employee's Salary before incorporation also? And when the Company is incorporated after 2 months, Is it possible to show this expenses as Pre-incorporation Expenses?.What would be treatment for Salary Paid and TDS Deducted when the Company is incorporated? How will we give TDS Certificate to the Employee at the end of the Financial Year?

1 Answers   TCS,

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What is difference between provisional and projected balance Sheet

2 Answers  

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what is the mean of amountisation

1 Answers  

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How to pass VAT retention entry on computer and Furniture

0 Answers   Athena, Blue Consulting,

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Explain financial accounting.

0 Answers  

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who is the customer and vendor?

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HOW TO CALCULATE VAT, INCOME TAX , ESI , PRO.TAX. P.F,

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3 Answers  

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If we maintain inventory then if proprietor take the some goods for personal Use then how to we do entry

3 Answers  

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Credit purchase entry

10 Answers   Ernst Young, FIC,

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