Sir
We have a supplier of marbles cut pieces,tiles. we have made boundayr wall and repair main wall. in repairing works we have used self material like tiles pieces cement bgs. only paid Labour and rent of sheltering please suggest how to pass the entry in books of account
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Replies (4)
Quick Summary
Labour charges will be paid under direct expenses.
Labour charges a/c dr
to Cash/Bank a/c
Rent of sheltering a/c dr
to Cash/Bank a/c
And all the related expenses shall be
Repairs and maintenance a/c dr
to Cash/Bank a/c
And at last...
Trading a/c dr
to Labour charges a/c
Profit and loss a/c dr
To Rent for sheltering a/c
Labour charges a/c dr
to Cash/Bank a/c
Rent of sheltering a/c dr
to Cash/Bank a/c
And all the related expenses shall be
Repairs and maintenance a/c dr
to Cash/Bank a/c
And at last...
Trading a/c dr
to Labour charges a/c
Profit and loss a/c dr
To Rent for sheltering a/c
Sir how to adjust material which we self used material consumed
Expense dr
to capital acc
to capital acc
Using self materials you can adjust it as expenses or in drawings
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