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If ABC security service provider monthly bill for the month
of Jan is Rs.2,00,000/- including TDS 2% and Service Tax
12%, Edu.Cess 2% and SHE Cess 1% what is the journal entry.
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Answer Posted / ziya anjum
there will be only one entry
that is
ABC secu.ser A/c ---Dr 170000
Service Tax A/c ---Dr 24000
Education Cs A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To Bank/Cash A/c ---cr 196000
OR
1st Entry should be
Security Service charges A/c ---Dr 194000
Education cess A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To ABC Security Serv ---Cr 196000
2nd Entry should be
ABC Sec.Ser A/c ---Dr 196000
TDS Payable A/c ---Dr 4000
To Bank/Cash ---Cr 200000
plz correct me if i wrong.
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