Accounting entry

A/c entries 634 views 1 replies

ggk

44 Points Joined July 2011

Dear All,

Pls help me with the following

In the books of a contractor (Proprietorship) how the following entry to be passd

Entry for part bill submitted by the contractor to the contractee

Entry for part receipt from contractor

Entry for advance receipt from contractee

Also suggest me appropriate account head

Thanks & Regards

Replies (1)

Master in Accounts & high court Advocate

9016 Points Joined December 2011

Radha

First entry: Contractee a/c Dr

To Contract a/c (Part bill amount)

2) Bank a/c Dr

To Contractor a/c

(Being amount received)

3) Bank a/c Dr

To Contractee a/c

Being advance amount received vide dd./cheque no.....dt...)

4) Accounts heads are (1) Contract A/c (2) Contractee A/c

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