01 August 2017
Rent + Electricity Bill received by the tenant in cash. For Example:- 10,000+2,500 = 12,500
What would be the entry in books of account of Owner
1.) Rent received in cash 2.) Electricity bill amount received in cash. 3.) Electricity bill paid by the owner from his bank account .(e-payment) 4.) Amount paid to the BSBE. 5.) How to settle all the related accounts.
Note:- Journal /Receipt/Payment Entry for the above to settle. *Rent is the part of owner’s indirect income electricity bill is not.
01 August 2017
Sorry,.....what do you mean by..."Rent + Electricity bill received by the tenant in cash" (First sentence of your query)? Can you please explain so that I can give the entries.
02 August 2017
Sorry, I did not get you.Anyway, let us leave it aside. Who ever who bears the cost is eligible for claiming the deduction is the basic rule. Can you now redraft your query?
CAclubindia
