08 August 2023
how to make journal entry in the books of Partners Books In The LLP there are three partners and theirs profit sharing ratio is A-50%, B-40% and C 10% we passed journal entry in the books of LLP on 31st March 23 Partner A Dr - Rs, 50,00,000 Partner B Dr. - Rs, 40,00,000 Partner C Dr. - Rs. 10,00,000 To Advance Tax FY 2022-23 Rs. 80,00,000/- To TCS Receivable Rs. 10,00,000/- To TDS Receivable Rs. 10,00,000/- My question is that also How to Make journal entry in the books of partners TDS , TCS and TDS transferred to partners account Rs. 1,00,00,000. Please reply.
CAclubindia
