Sir
We have a supplier of marbles cut pieces,tiles. we have made boundayr wall and repair main wall. in repairing works we have used self material like tiles pieces cement bgs. only paid Labour and rent of sheltering please suggest how to pass the entry in books of account
Labour charges will be paid under direct expenses.
Labour charges a/c dr
to Cash/Bank a/c
Rent of sheltering a/c dr
to Cash/Bank a/c
And all the related expenses shall be
Repairs and maintenance a/c dr
to Cash/Bank a/c
And at last...
Trading a/c dr
to Labour charges a/c
Profit and loss a/c dr
To Rent for sheltering a/c
CAclubindia
