Will 'Excess Provision written back' be a balancesheet item or a P& L item??
Aparna Raja K.C (Student) (520 Points)
09 July 2011Will 'Excess Provision written back' be a balancesheet item or a P& L item??
ashish gupta
( student)
(1922 Points)
Replied 10 July 2011
you will credit the P&L with the corresponding provision a/c. P&L A/c will be credited and balance of provision will be reduced in the balance sheet.
CA Hemant Kumar
(CA, LLB (p), B.Com)
(204 Points)
Replied 12 July 2011
ashish is right..
and if want the entry then also ask..i'll provide u..
CAclubindia
