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malarvannan (accounts executive)     25 November 2011

Accounting entry pls guide me

Dear friends

I have few doubts

1. What is  the journal entry for expenses incurred for transport. Consignment sent from Place A to Place B.

2. What is the journal entry for labour expenses incurred for job1.(Ex. Ashwin industries)

I given the payment like ashwin industries a/c dr

                                                     bank a/c cr

But i dont know how to book the expenses.

 

Pls guide me its urgent

 

 



 5 Replies

ashish gupta

ashish gupta ( student)     25 November 2011

1. Transportaion Charges A/c Dr.

                         To XYZ ( transporter)

 

2. Labour Charges A/c Dr.

                 To Ashwin Industries

Lakshy

Lakshy (Semi-Qualified C.A. PGDFM BCom.)     25 November 2011

If transportation charges incurred by company then it should be directly debited to Freight local a/c.

malarvannan

malarvannan (accounts executive)     25 November 2011

Friends.Thanks for your reply 

abdul latheef.A

abdul latheef.A (chennai)     25 November 2011

1) The expenses incured to accounting book like the journal entries

Transportation charges a/c dr

          To Ashwin industries A/c 

( being the transportation charges for local goods trf to ashwin industries )

 

2 Then make the payments entries

  Ashwin industries a/c dr

    To Bank a/c

 

 

CA. Kunal Lakhotia

CA. Kunal Lakhotia (ACA)     26 November 2011

Originally posted by : ashish gupta

1. Transportaion Charges A/c Dr.

                         To XYZ ( transporter)

 

2. Labour Charges A/c Dr.

                 To Ashwin Industries


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