Rent

could anyone explain me the solution of this roble.. how will i pass the the journal entry from begning to end of these transaction

suppose we have given our building on rent @ 1,00,000 per month in jan 2012 but we received only  60,000 for jan 2012 and rest of rent in pending so now how will we pass the journal entry  from 1 jan to 31 march 2012..in our books of accounts including TDS.. pls help pls

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Originally posted by : akash


could anyone explain me the solution of this roble.. how will i pass the the journal entry from begning to end of these transaction

suppose we have given our building on rent @ 1,00,000 per month in jan 2012 but we received only  60,000 for jan 2012 and rest of rent in pending so now how will we pass the journal entry  from 1 jan to 31 march 2012..in our books of accounts including TDS.. pls help pls

In my opinion,

Party name  a/c Dr (with amount paid)

Rent receivable a/c Dr

To Rent received  a/c (with amount actually received)

To Income tax ( T.D.S.) payable a/c (with TDS amount)

 

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