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This query is : Resolved
31 December 2012
sir,
what should we do in account when property tax & interest for previous 3years paid on current year? can it be prior period item as there is no liablity for this shown in the books ? plz suggest...........
what should we do in account when property tax & interest for previous 3years paid on current year? can it be prior period item as there is no liablity for this shown in the books ? plz suggest...........
31 December 2012
HI
Yes it is prior period expenses. You can directly expense out to Rates & Taxes A/c.
Thanks!!
Yes it is prior period expenses. You can directly expense out to Rates & Taxes A/c.
Thanks!!
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