Accounting treatment
This query is : Resolved
09 May 2014
Dear Experts,
I would like to know the accounting treatment of the following transaction :
I have a Creditor i.e, Mr.A which he owe Rs 25,000..I have an debtor Mr.B also which i owe Rs 25,000. I have told Mr B to transfer the money in the account of Mr A..
I would like to know the accounting treatment in my books..??
Pls suggest !!!
I would like to know the accounting treatment of the following transaction :
I have a Creditor i.e, Mr.A which he owe Rs 25,000..I have an debtor Mr.B also which i owe Rs 25,000. I have told Mr B to transfer the money in the account of Mr A..
I would like to know the accounting treatment in my books..??
Pls suggest !!!
Guest
Guest
(Expert)
09 May 2014
These type of treatment is generally not allowed dear... ha if they have deposited cash.. then you can do two entries of receiving cash and payment through cash.. but by bank you cant do any adjustment entry like this..........
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
