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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2014 I have two companies. A and B. Company A paid CST tax on behalf of company B. company B immediately wrote a check for the amount to company A for CST paid.

I need to know what will be the entry in the books of A and B for this transaction?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 July 2014 it is like loan given n repaid.

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2014 Is it possible for you to elaborate the entries please?

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 July 2014 in books of A:
1.Co b A/c ......dr
to bank a/c

2.when rec back from Co B:
Bank a/c.........dr
To Co A

in books of co B:
1.CST a/c........
To Co A:

2.When Paid to co A.
Co A .....dr
To Bank