accounting entry
This query is : Resolved
17 August 2010
Dear Expert,
Pls confirm this entry.
Expenses to be booked as on 31st March in P&L and BS.
say 2 bills Rs. 5000 & 11000 pertaining to Rep. & maintenance are to be booked.
Repairs & Maint. Dr 16000
To party 16000.
what is the diff. b/w provision & expense booking made as on last date of BS?
thanks
kirti.
Pls confirm this entry.
Expenses to be booked as on 31st March in P&L and BS.
say 2 bills Rs. 5000 & 11000 pertaining to Rep. & maintenance are to be booked.
Repairs & Maint. Dr 16000
To party 16000.
what is the diff. b/w provision & expense booking made as on last date of BS?
thanks
kirti.
17 August 2010
IF YOU HAVE RECEIVED BILL DATE BEFORE 31ST MARCH , THEN YOU HAVE BOOK THE EXPENSES BY NAME OF PARTY.
IF YOU HAVE NOT RECEIVED BILL TILL 31ST MARCH , I.E BILL RECD OF LATER DATE LIKE AUDIT FEE IN JUNE AFTERWARD 31ST MARCH, THEN YOU HAVE TO MAKE PROVISION AND DEDUCT TDS IF DUE.
IF YOU HAVE NOT RECEIVED BILL TILL 31ST MARCH , I.E BILL RECD OF LATER DATE LIKE AUDIT FEE IN JUNE AFTERWARD 31ST MARCH, THEN YOU HAVE TO MAKE PROVISION AND DEDUCT TDS IF DUE.
Message likes :
1 times
17 August 2010
IN ABOVE CASE YOU HAVE TO MAKE ETNRY
REPAIR & MAINTAINACE DR 16000/-
TO EXPENSE PAYABLE-GENRAL 16000/-
WHEN YOU HAVE RECED BILL LATER
THEN
EXPENSE PAYABLE GENERAL DR 16000/-
TO PARTY 16000/-
REPAIR & MAINTAINACE DR 16000/-
TO EXPENSE PAYABLE-GENRAL 16000/-
WHEN YOU HAVE RECED BILL LATER
THEN
EXPENSE PAYABLE GENERAL DR 16000/-
TO PARTY 16000/-
Message likes :
1 times
17 August 2010
Agreed with mr. Bansal
17 August 2010
yes agreed,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- TDS on TRUST
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Consolidated financials
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
