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Pass a entry for the Contract receipts of Rs. 20000 after
deduction of mobilization adv 30%, TDS 2.244%,Works
Contract TDS 2% and retention money @ 10%
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Answer / yvk prasad
mobilization advance a/c dr 6000.00
tds income tax recble a/c dr 449.00
adv.for sales tax/tds on w.c.a/cdr 400.00
retention money a/c dr 2000.00
Sundry debtor/party a/c dr 11151.00
work contract receipts a/c cr 20000.00
| Is This Answer Correct ? | 39 Yes | 13 No |
Answer / munnalal
SUNDRY DEBTORS- 20000/-DR
MOBILIZATION- 10761.17/-DR
TDS RECEIVABLE- 804.94/-DR
WORK CONTRACT TAX- 717.41/-DR
RETENTION- 3587.06/-
SALES-WORK CONTRACT- 35870.58/-CR
__________ ____________
35870.58/-DR 35870.58/-CR
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / arun kumar
MObilization adv dr. 6000
TDS dr. 449
wct dr. 400
retention money dr. 2000
party/dr. 11151
contract receipt 20000 cr.
| Is This Answer Correct ? | 9 Yes | 4 No |
Answer / prasad deshmukh
tds recble 797
Retention Money 3586
W.C. 717
Cash / Bank 20000
party a/c 25104
| Is This Answer Correct ? | 19 Yes | 16 No |
Answer / ajay vinayak
1) First book the contract in journal by following entry:
MObilization adv dr. 6000
TDS dr. 449
wct dr. 400
retention money dr. 2000
party/dr. 11151
contract receipt 20000 cr.
2) At the time of receiving money:
Bank A/C.....dr.11151
to Party A /c 11151
| Is This Answer Correct ? | 5 Yes | 4 No |
Entry
cash / bank a/c Dr. 20000/-
TDS Receable a/c Dr 1515/-
Mobilization a/d. Dr 10761/-
Retention maney a/cDr. 3587/-
To Party a/c 35863/-
| Is This Answer Correct ? | 11 Yes | 13 No |
Answer / sandeep
MObilization adv dr. 6000
TDS dr. 314 (20000-6000)
tds already deducted by deptt/agency at the time of given/release)
wct dr. 400
retention money dr. 2000
party/dr. 11286
contract receipt 20000 cr.
| Is This Answer Correct ? | 1 Yes | 4 No |
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