Please tell me the journal entry of below mention question.
Electricity bill Rs 1000
Paid Rs 600
So what will be the journal entry of this
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Journal entry
Replies (18)
Electricity Expenses A/c Dr. Rs.1,000
To Electricity Exp. Payable A/c Rs. 1,000
(Being the amount payable towards Electricity Bill)
Electricity Exp. Payable A/c Dr. Rs. 600
To Bank/Cash A/c Rs. 600
(Being amount paid for Electricity)
Electricity Bill A/C...........Dr. 1,000
To Bank A/C 600
To Electricity bill outstanding 400
1. Elec exp dr. 1000
to elec exp payable 1000
2. elec exp payable dr. 600
to cash/bank 600
to elec exp payable 1000
2. elec exp payable dr. 600
to cash/bank 600
What about remaining 400 rs
It is correct entry
If you are booking on receipt basis then:-
Electricity expense a/c 600
To Cash a/c 600
Electricity expense a/c 600
To Cash a/c 600
DEAR ALL
AGREE ABOVE ALL ENRTY
BUT YOU CAN DO IN A SINGLE ENTRY LIKE AS UDNER:
(DR) ELECTRICITY EXEPENSES RS 1000
(CR) CASH /BANK RS. 600
(CR) EXEPENCES PAYABLE RS 400 (CURRENT LIABILTY)
Electricity bill expense 1000
To cash/bank 600
To cash/bank 600
To expense payable 400
prepaid entrt
Dr electricity expenses 1000
Cr bank or cash 600
Cr electricity expenses payable 400
Dr electricity expenses 1000
Cr bank or cash 600
Cr electricity expenses payable 400
Dr electricity expenses 1000
Cr bank or cash 600
Cr electricity expenses payable 400
Electricity expense ac Dr. 1000
To cash or bank ac 600
To electricity expense payable 400
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