Fixed deposit for 13 month ( in november 2012)
This query is : Resolved
03 December 2012
sir a private ltd company invested rs 1000000 in fixed deposit in bank for 13 th month. after maturity the amount the company get on fixed deposit is rs 10,95,000. can u tell me the entry in accounts in this year and also in next financial year ... the date of fixed is in NOVEMBER 2012. and maturity completed in december 2013 . what is entry in books of accounts rate of interest is 8.75%.pls assist...
03 December 2012
1. Investment
Fixed Deposit A/c Dr
To Bank
2. On 31st March
Accrued Interest A/c Dr
TDS Receivable 12-13 A/c Dr
To Interest
(Obtain a TDS certificate from the bank which will contain the amount of interest and TDS)
3. At the time of maturity
Bank A/c Dr
TDS Receivable 13-14 A/c Dr
To Accrued Interest
To Interest
To Fixed Deposit A/c
Fixed Deposit A/c Dr
To Bank
2. On 31st March
Accrued Interest A/c Dr
TDS Receivable 12-13 A/c Dr
To Interest
(Obtain a TDS certificate from the bank which will contain the amount of interest and TDS)
3. At the time of maturity
Bank A/c Dr
TDS Receivable 13-14 A/c Dr
To Accrued Interest
To Interest
To Fixed Deposit A/c
03 December 2012
can u do this journal entry with figures .
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
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- Sales return eway bill
- Agriculture income or business income
- GST ON DAMAGED GOODS
- Tax liability on income of freelancer
- STCG FOR GOLD ETFs
- Taxation on LTCG for property sold after 24JUL2024
- GST Registration Horse racing
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
