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Journal Entry
What will be the provision entry of Rent with tds deduction of 31st march'20 and journal entry of paying same bill in July'20
Replies (3)
Quick Summary
On 31st march- Rent a/c Dr
To Tds A/c
To party A/c
on july -. party A/c Dr.
To Bank A/c
To Tds A/c
To party A/c
on july -. party A/c Dr.
To Bank A/c
1) rent a/c dr.
to party a/c
2) party a/c dr.
to tds payable a/c
3) on July = party a/c dr.
to cash/bank a/c
4) desposit tds = tds payable a/c dr.
to bank a/c
to party a/c
2) party a/c dr.
to tds payable a/c
3) on July = party a/c dr.
to cash/bank a/c
4) desposit tds = tds payable a/c dr.
to bank a/c
Provisional entry on 31st March :
Rent Expense A/c Dr
..To TDS Payable A/c
..To Party A/c
On july, when payment made to party :
Party A/c Dr.
..To Bank A/c
When TDS Paid :
TDS Payable A/c Dr.
..To Bank A/c
Rent Expense A/c Dr
..To TDS Payable A/c
..To Party A/c
On july, when payment made to party :
Party A/c Dr.
..To Bank A/c
When TDS Paid :
TDS Payable A/c Dr.
..To Bank A/c
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