| .. | making contract and taking pdc | |||||
| PDC A/c----------------DR | 50000 | |||||
| to Unearned Income Account A/C | 50000 | |||||
| debtors A/C --------Dr | 5000 | |||||
| to SALES ACCOUNT | 5000 | |||||
| clearance of ceque | ||||||
| bank A/C--------------Dr | 25000 | |||||
| to PDC A/C | 25000 | |||||
| monthly | recording of income | |||||
| unearned income A/C-------------Dr | 5000 | |||||
| to Income A/C |
5000
|
|||||
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How to book rental income?
Replies (6)
am i right??? please someone help.
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why u r laughing?
It's not laughing bro....
Really it's not understanding and Why you create more entries for above said way....
Simple as PDC entry for the customers name.....
Really it's not understanding and Why you create more entries for above said way....
Simple as PDC entry for the customers name.....
how to book the rent income
Hi Sanil,
Pls pass following entries
1. In Cash System
Cash / Bank Account A/c Dr.
To Rental Income A/c (Under the head income)
2. In Accrual/ Mercantile System
Bank Account Dr.
To Rental income
And as on 31.03 You should pass one more entry for accrual of rent for the month of March
Rent Income receivable A/c
To Rental income
Next month i.e in April You should netoff the Rent income receivable account with rent income actual received in April month.
Regards
Tripti R Sawant
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