Co-operative society account

carriage expenses
Replies (5)

You query is not clear  ,please  elaborate . 

Carriage expense is an expense allowable under income tax act if it used for the purpose of the co op society
Where to entry
trading account
profit and loss account
balance sheet

Co-Op  Society  is Non  profit  organisation  therefore  you  have  to  prepare  Income & Expenditure  A/c  , instead  of   Trading & profit  & loss  (its for profit  making  business)  . So prepare  Income & expenditure  A/c  and   Show  Carriage  expense  on expenditure side .  

J. E  will be 

Carriage  Expense   A/c    Dr .

To Cash / Bank         A/c   CR 

(  Being carriage expense paid )  In you paid  Cash  Cr  cash  A/c  otherwise  Bank  should be credited .  

INCOME EXPENDITURE ACCOUNT TO BE MAINTAINED.
CARRAIGE EXPENSES DR.
TO BANK.

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