Accounting mistake in last year
This query is : Resolved
25 November 2014
actual entry
debtors 100000 dr
sales 90000 cr
vat 10000 cr
entry done
debtors 100000 dr
sales 85000 cr
vat 15000 cr
how shall i rectify the error in fy 13-14
since it is a proprietorship firm
should i debit vat & credit capital a/c
debtors 100000 dr
sales 90000 cr
vat 10000 cr
entry done
debtors 100000 dr
sales 85000 cr
vat 15000 cr
how shall i rectify the error in fy 13-14
since it is a proprietorship firm
should i debit vat & credit capital a/c
25 November 2014
Credit sales a/c so that you can pay Income tax during the current year.
25 November 2014
should i credit capital a/c since it is a proprietorship firm
25 November 2014
If for income tax working you have already considered it as income take it to capital a/c.
26 November 2014
yes you take as income then tfr. to capital a/c
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
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- TAN for Partnership
- NON- SUBMISSION OF LLP FORM 3
- Long Term Service award taxability in hands of company
- What is provisional receipt number for generation of form 16A
- Last year TDS Claim
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- LTCG for Assmt year 26-27
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
