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GeekInterview.com > Interview Questions > Accounting > Accounts Payable
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Question: Pass a JV
Answer: How to pass a JV when we receive bill including service tax? How to close this a/c? |
| September 09, 2009 09:30:52 |
#3 |
| chinnaguntupalli |
Member Since: September 2009 Total Comments: 15 |
RE: Pass a JV
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Entries to post is
Expense A/C Dr.
Tax A/C Dr.
Vendor A/C Cr.
Upon end of each month we will file return with Govt. entry would appear like this.
Tax Payable A/C Dr.
Tax A/C Cr.
Tax A/C Dr. to Vendor A/C (Govt) Cr.
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