Expenses provision
This query is : Resolved
Bhagyashri Madhabhave
(Querist)
11 August 2020
supplier bill not received Till 31st March hence Average Rs.10000/- expenses payable entry taken in last year. current year supplier bill received of rs.7000/- how to do provison of rs.3000/-
CA KARAN SINGH
(Expert)
12 August 2020
Pass a reverse entry of Rs. 3000.
Expense Payable A/c Dr. 30000
Profit & Loss A/c Cr. 3000
Expense Payable A/c Dr. 30000
Profit & Loss A/c Cr. 3000
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