accounting entries

Name: Qatar Living Classifieds
Rating: 4.1 (228 reviews)
Author: Qatar Living

hai, can anybody pls give me the entries for following transaction

1.cmpany x take a a sub contract from company Y for one year qr:150,000
2.cmpany X recieved qr.50,000 as a advance payment
3.contract expence is increased by qr:200,000
4.made one invoice by company X to Ccompany Y qr:25000 as per the contract finished

which ledger accounts to be created to make this accounts
thank you.

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1 comments Sort by rating

By Asta• 6 Jun 2009 13:37

Rating: 4/5

1. Cash/Bank A/c Dr. - QRs. 50,000.00

To, Advance(Liability) Cr. QRs, 50,000.00

2. Advance (Liability)Dr. - QRs. 50,000.00

A/c Receivable Dr. - QRs. 200,000.00

To, Sales Income Cr. QRs. 250,000.00

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accounting entries

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