Answer Posted / b.narasimha rao
THE PUBLIC COMPAY START WITH 7MEMBERS AND MAXIMAM UN LIMITED
PRIVATE COMPANY START WITH MINIMAM 2 MEMBER AND MAXIMAM 50
MEMBERS
IN PUBLIC COMPANY SHARES ARE TRANSFER BETWEEN SHAREHOLDERS
FREELY BUT IN PRIVATE COMPANY SHARES TRANDFERED RESTRICTED
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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
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