Group gratuity scheme in lic
This query is : Resolved
21 April 2013
The Company has taken a Group Gratuity Scheme from LIC and has paid Rs. 125,000 towards the same.
Please suggest me regarding the journal entries to be booked and the accounting treatment of the same in Revised Schedule VI.
Please suggest me regarding the journal entries to be booked and the accounting treatment of the same in Revised Schedule VI.
CMA Ramesh Krishnan
(Expert)
09 September 2013
incase you have liability, you can debit the liability and credit the bank, otherwise debt as prepaid gratuity
need to show under other provisions
need to show under other provisions
CMA Ramesh Krishnan
(Expert)
09 September 2013
incase you have liability, you can debit the liability and credit the bank, otherwise debt as prepaid gratuity
need to show under other provisions
need to show under other provisions
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