Accounts quarry..........
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2014
Sir please tell me
what is the journal entry for receiving of Fixed Deposit with interest.
what is the journal entry for receiving of Fixed Deposit with interest.
23 May 2014
The entry will be :
1. If TDS is there:
Bank Account A/c -Dr TOTAL AMT-TDS
TDS Receivable A/c -Dr TDS Amt
To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period
2. If no TDS:
Bank Account A/c -Dr TOTAL AMT-TDS
To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period
1. If TDS is there:
Bank Account A/c -Dr TOTAL AMT-TDS
TDS Receivable A/c -Dr TDS Amt
To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period
2. If no TDS:
Bank Account A/c -Dr TOTAL AMT-TDS
To. Fixed Deposit Amt as in the Bal Sheet
To. Interest of FD A/c Interest for the current period
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23 May 2014
if you recd 109000 after tds (gross 100000+10000intt)
bank a/c 109000
TDS receivable a/c dr 1000
to FDR a/c 100000
to Intt recd. on FDR 10000
bank a/c 109000
TDS receivable a/c dr 1000
to FDR a/c 100000
to Intt recd. on FDR 10000
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