Dear Sir
in books of account approximately Rs.50000/-Labour charges is payble.
Same paid by propriter in his own pocket so please suggest entry in books of account
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Labour charges payble By Cash
Replies (6)
(1) labour charges account debit
labour charges payable account credit.
(2) when actually paid.
the entry will be
labour charges payable account debit
proprietor capital account credit.
Cash account. Dr.
Capital account Cr.
Labour charges payable Dr.
Cash account. Cr.
Capital account Cr.
Labour charges payable Dr.
Cash account. Cr.
labour charges payable. It is payable he said. not paid.
Same paid by proprietor
Labour charges a/c dr
to labour charges payable a/c
Labour charges payable a/c dr
To Proprietor capital a/c
P/L a/c dr
to Labour charges a/c
to labour charges payable a/c
Labour charges payable a/c dr
To Proprietor capital a/c
P/L a/c dr
to Labour charges a/c
yes. I agree with Sourav
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