Accounting treatment

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What would be the accounting journal entries/ treatment in P&LA/c, Balance sheet,
If the person is carrying on Mobile recharge business
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On 26 November 2020 at 12:29 Report
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Quick Summary
This discussion explores the correct accounting treatment for a mobile recharge business. It covers the necessary journal entries for the Profit & Loss account and Balance Sheet. The conversation clarifies how to classify expenses like telephone costs and indirect expenses within the business's financial records.

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257 Points Posted on 26 November 2020
Will it comes in bs?
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On 26 November 2020 at 12:37
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574 Points Posted on 26 November 2020
It will be treated as business expense:

Telephone exp. Dr. ××××
To Indirect exp. ××××

Indirect exp. Dr. ××××
To Profit & loss a/c ××××
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On 26 November 2020 at 14:55
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132 Points Posted on 04 December 2020
Hi Dhaval

Can you brief me about Mobile Recharge Business ?
How you recharge, through Online agent

I can help you with Journal entries based on the above info
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On 04 December 2020 at 01:13

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