Page 241 - Account 10

While paying amount of contract tax,
Dr. Contract tax
Cr. Treasury Single Account (TSA)
(Being the contract tax deposited to revenue account of government)

While paying the amount of security deposit of contractor,
Dr. Security deposit account of .............. (Name of contractor)
Cr. Treasury Single Account (TSA)(Security deposite A/c)
(Being amount of security deposit returned to contractor Mr...............)
While refunding security deposit to contractor after the completion of contract,
Dr. security deposit account of ............... (Name of contractor)
Cr. Treasury Single Account (TSA)
(Being refunded of the security deposit to contractor)

Illustration - 9
Prepare Goshwara Vouchers for the following transactions related with contractual
dealings in the books of Land Reform Office, Rupandehi.
i. On 2074-8-15, security deposit of Rs l,00,000 Rs. 90,000, Rs. 1,05,000 and Rs. 1,10,000
received from contractors Mohan & Co., Kailash & Co., Khatri Constructions and
Khanal & Co. respectively through bank vouchers along with their tenders for the
construction of building of the office.
ii. Out of the first running bill of Rs. 500,000, the amount was paid through cheque to the
contractor after deducting 5% security deposit and 5% contract tax on 2074-8-16 and
the deducted amounts were deposited into the respective accounts on the same day.
Solution - i

Code No. Particulars L.F. B. H. No. Debit Credit
074: Dr. TSA Security Deposit A/c 4,05,000
8-15 Cr. Security Deposit of Mohan & Co. 1,00,000
i. Cr. Security Deposit of Kailash & Co. 90,000
Cr. Security Deposit of Khatri Constructions 1,05,000
Cr. Security Deposit of Khanal & Co. 1,10,000
(Being security deposit received from the
contractors through bank)
4,05,000 4,05,000
Code No. Particulars L.F. B. H. No. Debit Credit
074: Dr. B.E. Building Construction 29221 5,00,000
8-16 Cr. Security Deposit of Mohan and Co. 25,000
Cr. Contract Tax 25,000
Cr. Treasury Single Account (TSA) 4,50,000
(Being amount paid to the contractor as per
the 1st running bill after deducting Security
deposit and contract tax)
5,00,000 5,00,000

240 Aakar’s Office Practice and Accountancy - 10 Journal Voucher 241