Accounting question for sales and salaries
This query is : Resolved
Kollipara Sundaraiah
(Querist)
06 December 2021
Sir,
One of the cloth business composite scheme dealer
1.Sales transactions UPI mode(phone pay and paytam and Google pay) for one day all amounts credited by bank account.
1.sales to customers rs:850/-
2.sales to customers rs:1000/-
3.sales to customers rs:1230/-
2.salaries paid to wife and son rs:5000/- and 6000/-
Question:
1.sale transaction amounts total sales single entry or multiple entry accounting passed in books correct procedure.
2.salaries paid to son and wife business expenses claim allowed in it act.
One of the cloth business composite scheme dealer
1.Sales transactions UPI mode(phone pay and paytam and Google pay) for one day all amounts credited by bank account.
1.sales to customers rs:850/-
2.sales to customers rs:1000/-
3.sales to customers rs:1230/-
2.salaries paid to wife and son rs:5000/- and 6000/-
Question:
1.sale transaction amounts total sales single entry or multiple entry accounting passed in books correct procedure.
2.salaries paid to son and wife business expenses claim allowed in it act.
Dhirajlal Rambhia
(Expert)
06 December 2021
1. Single entry can be posted per day.
2. Allowed.
2. Allowed.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- Non filing of I T Returns
- TDS on purchase of under construction property from a reseller
- UDIN ISSUE
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
