I have purchase a cloth of rs. 150000/-after that I have paid tailoring charges rs. 9000/- for
bed sheet making. pls suggest entries for tailoring charges
Dear Anand,
All accounting ledgers are related to their nature of business transactions. In this situation you have to Debit Tailoring charges(under direct exps. head) and have to credit party account.
Regards,
Naveen(9716822331)
Dear Anand,
All accounting ledgers are related to their nature of business transactions. In this situation you have to Debit Tailoring charges(under direct exps. head) and have to credit party account.
Regards,
Naveen(9716822331)
direct expenses
entry
tailoring charges dr
to party / cash
Dear Anand,
Like purchase is a direct exp. Tailoring and other exps. related to finished products (i.e., direct exps.) are the components for making products saleable. Eg. if you purchase any goods freight and packaging not include in the cost of material purchase because its the part of exps not related material cost.
Regards,
Naveen Singh(9716822331)
CAclubindia
