banner_ad

Tally

Accounting Entries 1233 views 2 replies

In following transaction a company made net profit of 10,000 where Mr.A, Mr.B & Mr.C had the share ownership of 50%, 25% & 25% recpectively

Accounting voucher I’ve passed in Tally:
No. 1 (Journal Entry)
P/L A/c                            Dr    10,000
Retained Earnings      Cr                10,000

            

No. 2 (Journal Entry)
Retained Earnings      Dr      1,000

Dividend                         Cr                1,000

 

No.3 (Journal Entry)

Dividend                         Dr     1,000

Mr. A                                Cr                500

Mr. B                                Cr               250

Mr. C                                Cr.              250

 

No.4 (Payment Voucher)

Bank A/c                        Cr    1,000

Mr.A                                 Dr              500
Mr.B                                Dr              250
Mr.C                                Dr              250

 

Note: Mr.A. Mr.B & Mr.C ledger are created under current liability group while Rerained Earnings and Dividend ledger is created under Capital account group and Bank A/c ledger is created under current asset Group.

So the question is whether the Accounting Vouchers passed by me is right or wrong?

Replies (2)

Mr Mohan

Retined Earnig is the part of reserve & surplus and divined payble to share holder is libility so you shuld open these a/c under reseve & surplus and current liablities

There is only three shre holder so you may payment of divend to share holder to dirctly Dr to dividend payable a/c without opening the share holder a/c in the books

The Above amount Rs. 10,000 is after paying any tax or before the tax.

Also which Accounting Standards is applicable to various resrve's

 

Thanks

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details