A Tust has 3 School A,B & C.
-All of them maintain separate books of Accounts.
-Expenses of Electricity Bill arise A-1600, B-1000 &C-1400. All of them made provisions in their respective books of Accounts.
- But cheque of total rs.4000 issue from School A.
what will be the journal entries and under which group in Tally ERP 9.
In the Books of A entry will be
Electricity Exp A/c Dr
To Bank. A/C Cr
(Being electricity Exp paid)
In the Books of B entry will be
Electricity Exp A/C Dr
To A A/c Cr
(Being electricity Exp paid by A school )
when you pay back to A school entry will be
A. A/C. Dr
To Bank. A/c. Cr
( paid to A school Account paid earlier )
In the Books of C entry will be
Electricity Exp. A/c Dr
To A. A/c Cr
( Being electricity Exp paid by A school )
when pay back to. A school
A. A/c Dr
To Bank. A/c. Cr
(Payment made to school A , earlier paid )
In the Books of. B and C , A account will be under current liabilities balance sheet .
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