if a gold jewelry shop have vehicle(4 wheeler) which they used as "cab " for their passive income if they collected Rs 100000 from the CAR and the driver 's fees is Rs 20000 so what are their accounting treatments ??
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If a gold jewelry shop have vehicle(4 wheeler)
Replies (2)
You can treat this cab service income as other income in p&L account .
pass entry
Cash / Bank. A/c Dr 100000/-
To CAB service A/c Cr 100000/-
( Being received towards cab service )
Payment of Driver fees as indirect expenses in P&L .
Drivers fees A/c Dr
To Bank A/c Cr
( payment to Driver fees for cab service)
pass entry
Cash / Bank. A/c Dr 100000/-
To CAB service A/c Cr 100000/-
( Being received towards cab service )
Payment of Driver fees as indirect expenses in P&L .
Drivers fees A/c Dr
To Bank A/c Cr
( payment to Driver fees for cab service)
why does the driver's fees is recorded in book of accounts of jewelry shop although he is not a person who sale and made the jewelry ??
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