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Branch & division

Accounting Entries 376 views 2 replies

GANESH KUMAR KASHYAP

Private Job

206 Points Posted on 25 June 2015

Dear Sir,

I am Employee of ACCSL India Pvt. Ltd. & their 40 Branches of All over india. My question is if rent of allahabad branche paid by Head office of Rs. 60000 with tds deducting @ 10%. what is the journal entry for this. Vendor Name : ashok jain.

Replies (2)

yash kariya

student

35 Points Posted on 29 June 2015

1.Allahbad branch ac dr. 60000 . . . . . . To bank 54000(or to vendor if unpaid) . . . . . . To tds payable ac 6000 ( deducted on respected pan) 2.later tds deducted paid to govt. Tds payable dr. 6000 To bank ac 6000.

GANESH KUMAR KASHYAP

Private Job

206 Points Posted on 30 June 2015

Originally posted by : yash kariya
	1.Allahbad branch ac dr. 60000 . . . . . . To bank 54000(or to vendor if unpaid) . . . . . . To tds payable ac 6000 ( deducted on respected pan) 2.later tds deducted paid to govt. Tds payable dr. 6000 To bank ac 6000.

HOW TO ENTRY IN ONE COMPANY WITH BRANCHES AGAINST INCOME & EXPENSES.
1. if branches receive income from business against loan taken from customer for Rs. 1000000?

2. if branches paid expenses from cash or bank ?