WE PAID 25000/- RENT ON THE BEHLF OF COMPANY PARTNER , IN OUR BOOK OF ACCOUNT , WE HAVE TO BOOK THE ENTRY IN JV , CAN YOU PLZ ADVISE HOW TO PASS PARTNER RENT RECEIVABLE ENTRY
Tanveer Ahmed gd (Accountant) (28 Points)
08 May 2024WE PAID 25000/- RENT ON THE BEHLF OF COMPANY PARTNER , IN OUR BOOK OF ACCOUNT , WE HAVE TO BOOK THE ENTRY IN JV , CAN YOU PLZ ADVISE HOW TO PASS PARTNER RENT RECEIVABLE ENTRY
RAJA P M
("Do the Right Thing...!!!")
(127511 Points)
Replied 08 May 2024
sekharsc
(partner)
(84 Points)
Replied 12 May 2024
Depends on the partnership agreement. If the rent is payable by the firm entry is simple. If the agreement is silent rent paid on behalf of a partner with the permission of all partners is to be treated as drawings
Tanveer Ahmed gd
(Accountant)
(28 Points)
Replied 12 May 2024
| Originally posted by : RAJA P M | ||
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As per Your query, You paid rent behalf of partner.Then Why you want to enter it...??Can You give reason...???Give reason, then You can get exact reply from members... | |
sir
we are paying rent on the behalf of partner every month , as per company policy , i have to pass rent entry and book the receivable entry against rent , can you please advise
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3316 Points)
Replied 16 May 2024
In your Cash./bank book the entry follows.
partners drawing account debit
bank account credit
RAJA P M
("Do the Right Thing...!!!")
(127511 Points)
Replied 16 May 2024
| Originally posted by : Tanveer Ahmed gd | ||
|
Originally posted by : RAJA P M As per Your query, You paid rent behalf of partner.Then Why you want to enter it...??Can You give reason...???Give reason, then You can get exact reply from members... sir we are paying rent on the behalf of partner every month , as per company policy , i have to pass rent entry and book the receivable entry against rent , can you please advise |
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Can You please show me the entries
RAJA P M
("Do the Right Thing...!!!")
(127511 Points)
Replied 16 May 2024
| Originally posted by : Rama chary Rachakonda | ||
|
In your Cash./bank book the entry follows. partners drawing account debit bank account credit |
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Querist asking PROVISION ENRTY...
SO, PLEASE PROVIDE THE REQUIRED ENTRY...ASAP
Tanveer Ahmed gd
(Accountant)
(28 Points)
Replied 16 May 2024
If we paid rent of the half of other later we have to receive money from them , what will be the entry
CAclubindia
