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Journal entry related
I am the Partner of my company.
I have two tenants in the company.
My company pays Light Bills & Electric Bills directly from bank account and receive part payments from the tenants in cheque.
My Question Is:---
What is the journal entry for cheque received from tenant for light bill and water bill???
Replies (8)
1. Light Bills & Water Bill Dr.
To Bank/Cash A/c
(Being Bills paid on behalf of Tenants)
2. Cash/Bank Dr.
To Light Bill & Water Bill A/c
(Being amount reimbursed by Tenants)
To Bank/Cash A/c
(Being Bills paid on behalf of Tenants)
2. Cash/Bank Dr.
To Light Bill & Water Bill A/c
(Being amount reimbursed by Tenants)
tenant
to bank cash
bank cash
to tenant
to bank cash
bank cash
to tenant
1. Electricity Exp A/c Dr.
To Bank A/c
(Being electricity bill paid)
2. Tenant A/c Dr.
To Electricity Exp A/c
(Being electricity exps receivable from tenant)
3. Bank A/c Dr.
To Tenant A/c
(Being amount towards elec exps received from tenant)
To Bank A/c
(Being electricity bill paid)
2. Tenant A/c Dr.
To Electricity Exp A/c
(Being electricity exps receivable from tenant)
3. Bank A/c Dr.
To Tenant A/c
(Being amount towards elec exps received from tenant)
1. Payment entry
Expense a/c dr.
To bank a/c
(being bills paid)
2. Journal entry for payment in journal book
tenant a/c dr.
To expense a/c
3. Receipt entry (re imbursment)
bank a/c dr.
To income(paid bills a/c)
4.journal entry for receipt in journal book
income(paid bills a/c)
To tenant a/c
1.) expense a/c Dr
To bank or cash a/c
(being expenses paid)
2.) tenant a/c Dr
to expense a/c
(amount receivable from tenant)
3.) bank a/c Dr
to tenant a/c
(being amount reimbursed from tenant)
To bank or cash a/c
(being expenses paid)
2.) tenant a/c Dr
to expense a/c
(amount receivable from tenant)
3.) bank a/c Dr
to tenant a/c
(being amount reimbursed from tenant)
so many entries so much confusion ...simply saranraj has given the best one in my view. Though all of the above are also logically right
Thank you very for the solution.
I will also go through the saranraj......
Sir, Doubt Cash paymentkku journal podalama
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