Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please

Categories >> Accounting >> Accounting AllOther
Suggest New Category

Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same

Question Posted / guest

43 Answers
94545 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / amit shelar

Professional Fees A/c.... dr 300000
to ABC & CO cr. 26910
to tds on Professional fees 3090

Is This Answer Correct ?

3 Yes

1 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / vaishali pawaskar

proffessional fees a/c .....dr 30000
to abc & co 30000
(Being provision for the proffeessional chrges)

consultant abc A/c .........dr 30000
to bank a/c 27000
to tds on prof fees 3000
(being paid proffessional chrges with tds @10%)

Is This Answer Correct ?

2 Yes

0 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / abhay gujarathi

Professional Fees A/C Dr 30,000
To ABC&Co 30,000
(Being Provision for Professional Fees)

ABC&Co A/C Dr 30,000
to BAnk A/C 30,000
(Being actual payment For Pro. Fees)

Is This Answer Correct ?

24 Yes

23 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / hiren vakta

1. Journal Entry

Professional Fees Dr.30000.00
To ABC & Co 27000.00
To TDS on P&T Fees 2700.00
(being jv toward professional fees toward ABC & Co as
per bill no.010 dtd.01/04/2010 attached herewith for FY
2010-11)

2. Bank Payment

ABC & Co Dr.27000.00
To Bank A/c 27000.00

3. Bank Payment

TDS on P&T Fees Dr.3000.00
To Bank A/c 3000.00

Note: Cess & SHEC is been removed on TDS for all w.e.f
01.07.2009.

Is This Answer Correct ?

12 Yes

11 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / nivedita paunikar

Professional Fees A/c. Dr. 30000=00
To TDS on Professional Fees ( 10.30 % ) 3090=00
To Cash / Bank 26910=00

( Being Professional Fees Paid to ABC Co. and TDS deducted
@ 10.30 % )

Is This Answer Correct ?

6 Yes

6 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / sridharan.v

i)Professional fees A/c Dr. 30,000
To ABC & Co. 26,910
To TDS on Professional 3,090
(Being provision for professional fee [due])

ii)ABC & Co. Dr. 26,910
To Bank A/c 26,910
(Being professional charges paid to ABc$co)

Is This Answer Correct ?

5 Yes

5 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / chaitanya

Professional fees a/c Dr 300000

To consultant ABC a/c 29250
TO TDS A/C 750
(Being amout paid to ABC consultants and reduction of
amoutn on tds at 2.5)

Is This Answer Correct ?

4 Yes

4 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / neeraj chandra sahoo

Professinal fee a/c dr.30000
Service tax a/c(12.36%) dr 3708
Tds payable a/c cr.3000
Abc

Is This Answer Correct ?

1 Yes

1 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / neeraj chandra sahoo

Professinal fee a/c dr.30000
Service tax a/c(12.36%) dr 3708
Tds payable a/c cr.3000
Abc

Is This Answer Correct ?

1 Yes

1 No

Professional fees of Rs.30000/- is paid to a consultant ABC & Co. please pass the necessary e..

Answer / ca rits patel

Prof. fees exp a/c .dr42500
Cenvat credit of S.T a/c .dr7000
SBC expense a/c .dr250
KKC payable a/c .dr250
To creditor a/c40000
To TDS payable @194 J a/c10000

Is This Answer Correct ?

0 Yes

0 No