Journal entry

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2014 Dear Sir/Mam,

Can any one tell me what will be the journal entry for electricity bill paid by me??

i receive a bill of 400 and i paid 1000, 400 my actual bill amount and 600 as advance. what will be the journal entry for this?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 August 2014 electricity exp a/c....dr 400
advance for elect exp a/c ....dr600
to bank a/c 1000

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)

23 August 2014 Dear Friend,

Rs.600 paid in advance will stand debit in the party's account, which will adjusted in your next bill, and entry will be,

Electricity exp. Dr.400
Party (name of electricity co. Dr.600
To bank / cash Cr.1000

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 August 2014 party a/c cannot be debited as its an exp a/c and its not personal a/c so as per rules of accounts it cannot be debited to party's a/c as there is no loan given or such element in it

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2014 thnx sir for your valuable suggestion.....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 August 2014 you are welcome friend.......................

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2014 can you tell me how to book expenses of electricity bill in JV

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 August 2014 when u making payment then how will jv come as payment voucher should be used