Interested to Buy Any Domain ? << Click Here >> for more details...
1. WE RUN A OFFICE IN RENTAL BUILDING, MY QUESTION IS A) I
TREAT THE OWNER OF A BUILDING AS CREDITOR AND PASS JOURNAL
VOUCHER IN TALLY AT THE END OF THE MONTH (OR)I SIMPLY
ACCOUNT THE RENT TO BE PAID AS OUTSTANDING EXPENSES AND
AFTER AT THE TIME OF PAYMENT I PUT PAYMENT VOUCHER , PLEASE
ADIVICE ANY OTHER OPTION ALSO?
- 1 Answers
- 4222 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
As mentioned by you, treating the Landlord as Creditor &
booking rental charges for the month by crediting the
Landlord A/c(Through General Journal) is correct. When the
payment is made next month as per the terms of the
Rent/Lease agreement, Pay by debiting the Landlord &
crediting the Bank/Cash A/c. In case you pay rent in advance
in the beginning of the month, then you can directly debit
the Rent A/c (Expense) and credit Bank/Cash as the case may
be. In any case you need to subject the rental amount to TDS
as per the provisions of the Income Tax Act,1961 (India).
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
I have passed in SBI clerical exam 2009 , pls tell me what question will be asked for interview .pls mail it on my email id sawant.supriya51@gmail.com
What are the different branches of accounting?
all GL Related Interview questions with answear
Mention the types of accounts involved in double entry book-keeping?
why only 6 months interest is charged on drawings
purchase of Rs 1000 were rejected and returned,however vendor returned Rs 800 and balance Rs 200 is charged to sundry exp A/c
As an importer of goods through letter of credit, (payment is done through indian bank to foreign back), my question is who is liable to pay with holding tax when the payment is remitted to foreign bank, whether the buyer(importer) or the seller and why?
how to pass entry in tally Rs 50000 cheque paid to son by father
what is the meaning of written-off as goodwill written-off
Plant and machinery destroyed for 50000
what are your current financial and accounting projects? What is your role?
how can we get a leaverage in intraday market if are not a professional acount holder?
Please let me know Under head of Sales Advance?
What is the basic accounting equation?
A company purchase goods Rs.2000/- & input vat received rs.100/- but at the time he sold goods 1000/- as a sales & 1000/- as a sock transfer. plz tell me how much take input claim in this case.
