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Journal Entry while making Year End Provision (Accounts)

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This query is : Resolved



( Author )
20 May 2010


Please clarify me what entry should be passed in case of Provision for Audit Fees(consider TDS also) and entry for subsequent year.



DEEPIKA GOEL

( Expert )
20 May 2010

Audit fees A/c Dr.
To TDS A/c
To Audit Fees Payable

(Being the provision has been made for audit fee payable to............. for the period of .........)

In subsequent year

While making payment to auditor

Audit fees payable A/c Dr.
To Bank A/c

(Being the payment made to auditor)


Rahul Gupta

( Expert )
21 May 2010

Agreed.
Also further on payment of TDS....

TDS Payable A/c......Dr.
To Bank/CAsg A/c......Cr


Kariyappa

( Expert )
21 May 2010

Agreed






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