journal entries for share application money received of 2000000
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Journal entries for share capital
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Quick Summary
Entries are as follows
Bank A/c Dr 20,00,000/-
To Share application money A/c Cr 20,00,000/-
( Being share application and allotment money
received )
share application money received transfer to Share Capital entry
Share application money A/c Dr 20,00,000/-
To Share Capital A/c Cr 20.00.000/-
( Being share application money transfer to Share Capital )
Bank A/c Dr 20,00,000/-
To Share application money A/c Cr 20,00,000/-
( Being share application and allotment money
received )
share application money received transfer to Share Capital entry
Share application money A/c Dr 20,00,000/-
To Share Capital A/c Cr 20.00.000/-
( Being share application money transfer to Share Capital )
Accounting for optical firms
A customer select a spectacle frame worth Rs 2000 and a numbered glasses of Rs 1500 after complete fitting of glasses customer refuses to buy it what are the accounting treatment for it
In the books of optical Firm
If the Invoice was issued of Rs 3500/- earlier , then same will be treated as sales return after refusal by the customer , so you have pass credit Note .
Entry will be
Sales return A/c Dr 3500/-
To Trade Debtor's A/c Cr 3500/-
( Being spectacle return by the Customer )
If GST charge earlier in the Invoice then CGST &SGST account will be debited in above entry.
If the Invoice was issued of Rs 3500/- earlier , then same will be treated as sales return after refusal by the customer , so you have pass credit Note .
Entry will be
Sales return A/c Dr 3500/-
To Trade Debtor's A/c Cr 3500/-
( Being spectacle return by the Customer )
If GST charge earlier in the Invoice then CGST &SGST account will be debited in above entry.
and what is the treatment of that spectacles it is useless for the firm ???
You can sale as a scrap .
These are not accepted.
| Originally posted by : sabyasachi mukherjee | ||
 |
These are not accepted. |  |
what?? explain it in detail please
click here for - Share Capital and its Accounting Entries
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