Interested to Buy Any Domain ? << Click Here >> for more details...
interest paid to bank for journel entry
- 16 Answers
- 54121 Views
- Bhoruka Aluminium, Genpact, I also Faced
- E-Mail Answers
Answer Posted / naveen kumar.karumuri
HERE THE QUESTION IS "INTEREST PAID TO BANK" IT IS
THE "NOMINAL ACCOUNT PRINCIPLE"
CONDITION: DR-ALL EXPENSES ALWAYS DEBIT
CR-ALL INCOMES AND GAINS ALWAYS "CR"
HERE JOURNAL ENTRY IS AS PER GOLDEN RULE
DR INTEREST PAID A/C
CR BANK/CASH A/C
(BEING INTEREST PAID TO THE BANK A/C)
| Is This Answer Correct ? | 12 Yes | 0 No |
Post New Answer View All Answers
Expand-------MUR
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 Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt.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.
company accounts introduction?
what is dividend? how do the use an accountancy?
Please send the clerical exam questions and answers to my mail Id pinky18.02.1985@gmail.com
What is the difference between income statement & Profit&loss A/c?
How do you manage the sales account in tally
income from depreciated asset is profit or loss?
Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question
Expand--------CMTS
What does my credit score mean?
what is status report? and flow report?
If DEBT/EQUITY ratio 2:1, is to good or bad for a company? how...??? can u explain it...???
Expand ----------GIDB
how to check which item is sold by the sundry debtors in tally?
