Confusion in 2 companies of same owner
This query is : Resolved
13 February 2014
I have one query . Suppose Mr. x owes 2 companies i.e. company A and Company B. company A sold of rs. 15000/- but amount recieved by Comapany B. so what should be entry in tally.
please mail me solution as early as possible.
my mail id is jpriya67@yahoo.com
please mail me solution as early as possible.
my mail id is jpriya67@yahoo.com
13 February 2014
it will be like loan given by co a to b and then given back by b co
13 February 2014
I dont get it. bcos if we show such loan . debtors in company A will show payble amt (outstanding). please tell me in deep.
13 February 2014
once it shows debtors immedtly pass reverse entry when b co pays to a co its just book entry as payment is rec by b.
13 February 2014
I pass entry as follows. tell me is this correct:
In A company :
Mr x(Debtors) A/c ..... Dr.
to sales A/c
and pass journal entry for adjustment
Company B A/c...........dr.
to Mr. X a/c
so that Mr. X Account will nil and no outstanding will remain.
Is this correct sir.
In A company :
Mr x(Debtors) A/c ..... Dr.
to sales A/c
and pass journal entry for adjustment
Company B A/c...........dr.
to Mr. X a/c
so that Mr. X Account will nil and no outstanding will remain.
Is this correct sir.
13 February 2014
ya you have booked correct entry just enter proper narration to both sep entries so that later u can identify.
Message likes :
1 times
13 February 2014
you are welcome priya...
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- How do you manage client document collection and follow-ups in your CA/CS practice?
- ETDS return q4 25-26
- Capital gains in IT returns
- IMS (import of goods) ITC related
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
