Entry on 31 march

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2014 Dear sir,
Please help me to solved this one,
1) In march we have create provision like i have to create electricity bill expenses, suppose i create expense of electricity bill of rupees 1000 on 31 march and in april i receive bill of rupees 1200 in april so what is the entries for that.

Thanks in advance

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 June 2014 31st March

Electricity Exp A/c Dr. Rs 1000
To Prov. for Elec. exp. A/c Rs 1000

in April

Prov. for Elec. exp A/c Dr Rs 1000
Electricity Exp. A/c Dr Rs 200
To Bank A/c Rs 1000

Or you can change the provision amount to Rs 1200 in your accounts since it wont get finalized in April itself.

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