Entries in both books of accounts

This query is : Resolved 
Quick Summary
This discussion addresses how to handle salary payments made from one company's bank account (Globe Core Solutions) but intended to be expensed by another related company (ASMI HVAC). The proposed accounting entries involve debiting ASMI HVAC and crediting the bank account in Globe Core's books, and then debiting salary and crediting Globe Core Solutions in ASMI HVAC's books.

Profile Image

Profile Image

(Querist)
01 February 2022 Dear Sir,

We have two companies with name Globe Core Solutions and other ASMI HVAC. we have made the payment of salary through bank from globe core solutions, but we want to show the salary paid from ASMI HVAC. Kindly guide through the entry in both the books of acccounts.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
01 February 2022 In the books of Globe core
Debit Asmi HVAC
Credit bank.

In the books of Asmi
Debit salary
Credit Globe core.
Profile Image

Suhasini Lad

Profile Image

Suhasini Lad (Querist)
01 February 2022 Thank you, sir for your reply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Sapan Kumar NayakSapan Kumar NayakPro Member KAVITA CHAUHANKAVITA CHAUHANPro Member Selvaraj KSelvaraj KPro Member MURALIKRISHNA EDDANAPUDIMURALIKRISHNA EDDANAPUDIPro Member prashantprashant
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category