How to pass entries in petty contractor account

Dear Sir,

We are in construction work, we are engaged with a petty contractor for electrical fitting work with material for Rs. 5,00,000/-  total contract value, out of 5,00,000/- we purchased on the behalf of petty contractor for material Rs. 3,00,000/- which is paid to supplier directly and the bill raised by supplier on behalf of us. Now we paid to the petty contractor  rest amount 2,00,000/-. How to pass the entries in our book including purchase entries from supplier.

Please help us, thanks

 

Replies (2)

1. Stock of Spares Dr   3 lacs

        To Supplier           3 lacs

2. Supplier Dr      3 lacs

       To Bank A/c

3.    Petty Contractor Dr   3 lacs

                To Stock of Spares 

4.    Petty Contractor Dr  2 lacs

           Bank A/c

5.   Repair & Maint.(Electrical) Dr 5 lacs

          Petty Contractor

Thanks Sir

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
06 July 2026
Senior Accountant

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
23 July 2026
Semi qualified CA

Garg Bros & Associate CA

New Delhi

CA Inter

View Details
Company
29 July 2026
ACCOUNTANT

ONESTEP GST SOLUTION

New Delhi

B.Com

View Details
Follow