Accounts
This query is : Resolved
02 February 2013
Provision created as on year end for audit fees 60000,but after that Auditor raised bill of 70000 what will the accounting treatment and journal entry?Help me.
02 February 2013
1)At the time of year end.
Audit Fees Ac. dr. 60000/-
to Audit Fee Payable Ac. 60000/-
2) At the time of payment
Audit Fee Payble Ac. 60000/-
Audit Fee Ac.(Exp) 10000/-
to Bank / Cash Ac. 70000/-
Audit Fees Ac. dr. 60000/-
to Audit Fee Payable Ac. 60000/-
2) At the time of payment
Audit Fee Payble Ac. 60000/-
Audit Fee Ac.(Exp) 10000/-
to Bank / Cash Ac. 70000/-
05 February 2013
thank u sir :)
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