Interested to Buy Any Domain ? << Click Here >> for more details...
A is vendor of B. B owes him 50000/-. A asked B to conduct
an event on his behalf and the expenses incurred by B was
25000/-. A issued a credit note in favour of B in full ,
stating that TDS done @10% on 25000/-. Now , B has to settle
A's balance.
1.Entries in the books of B
2.How much B repaid to A for settlement and the Entry in his
books.
- 5 Answers
- 7090 Views
- CTPL, I also Faced
- E-Mail Answers
Answer Posted / p. vedha
IN B'S BOOK
vendor A a/c 24500
tds a/c 500
to cash/bank 25000
therefore B should settle Rs. 49500/- to A
| Is This Answer Correct ? | 0 Yes | 3 No |
Post New Answer View All Answers
Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?
What are the activities that are included in the cash flow statement?
how to get a job in stock markets for MBA-FINANCE?
Explain me what is assets minus liabilities?
give 3 reasons why capital is referred to as a special liability
How to treat company managers personal expenses met by company if he is not taking salary from company and in future salary will be payable after deducting all personal expenses (salary amt will be decided only at paying year). pass journal entries
What do we mean by Redemption of shares and debentures?
Wo kya cheez hai jo sal me 1bar mahine me 2 bar aur hafte me 4 bar aur din me 6 bar ata hai?
What is the disadvantage of double entry system?
Dillution effect on EPS
What is partnership accounting?
When a company s accounting year-ends on a day that is other than the end of the calendar year what is called in accounting?
What is the use of form D in sale tax
What are the probable interviwe questions in SBI clerical interview ? I am having my interview on 30th april.
how to upload ledgers in excel or word document
