The director has paid 5100 to her father on the Occasion of Father's Day from the company's account.
What will be the journal entry of the same in tally prime and also tell under which group director comes in tally prime.
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Treatment on the Occasion of Fathers Day
Replies (7)
Quick Summary
Dr. Drawing A/c
Cr. Bank a/c or cash A/c
Director's A/c Dr
To Cash/Bank A/c
| Originally posted by : yogi kukreja | ||
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Dr. Drawing A/c Cr. Bank a/c or cash A/c |
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Drawings A/c in Company??
That too for Director( Is not necessarily Owner/Shareholder) ??
Also If Director is return that amount then Directors A/c Can show under Loan & Advance , In current assets , If he is not return back then Directors Expenses A/c , will be under Indirect Expenses, P&L A/c .
U r right mam sorry I don't seen complete question
Any amount to director is prohibited under 185 of the Companies Act , so please check section 185 is applicable in your Case or not .
No relationship exists in business entity concept.
Dr. Capital- equity
Cr. Drawings-equity
(Drawing amount is prepared)
There is a thing beyond it called reconciling
Dr. Drawing expense- equity
Cr. Bank
These r the accounts which get involved during this transaction. The first entry doesn't disturb balance sheet equation and the next one talkies both of them
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