Journal entry
This query is : Resolved
27 May 2014
Could you please explain the journal entries and the effect in R&P Account
1. FD Balance as on 01.04.2013 is Rs. 41,09,947.00 (This includes FD principle Amnt 40,00,000 and Int acrued 109947)
2. During the year FD is closed and recieved interest of 179442.00, what is the journal entry?
3. How this will effect in the Receipts and Payments Account?
1. FD Balance as on 01.04.2013 is Rs. 41,09,947.00 (This includes FD principle Amnt 40,00,000 and Int acrued 109947)
2. During the year FD is closed and recieved interest of 179442.00, what is the journal entry?
3. How this will effect in the Receipts and Payments Account?
03 June 2014
Receipts and payment account is nothing but a Cash book
.
.
hence cash paid and cash received only effects R&P account
.
.
interest accrued will not effect and interest received in cash/bank will effect
.
.
hence cash paid and cash received only effects R&P account
.
.
interest accrued will not effect and interest received in cash/bank will effect
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
- Opting our of sec 44AD
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Form 121 & TDS deduction
- Value of property in capital gain
- Copyright software
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
