How to account licence fees paid.
This query is : Resolved
vineesh chandran.k
(Querist)
06 April 2012
In the FY 2011-12 we paid Rs.100,000 as Public Performance Licence, the period it covers is 01-12-2011 to 30-11-2012.
How to account this?
How to account this?
11 May 2012
Licence fees for the period 1.12.2011 to 31.03.2012 shall be booked as an expense and for the period 1.4.12 to 30.11.2012 shall be booked as prepaid expense
Entry:
Licence Fees A/c Dr 33,333
Prepaid Licence Fees 66,667
To Bank A/c 1,00,000
Entry:
Licence Fees A/c Dr 33,333
Prepaid Licence Fees 66,667
To Bank A/c 1,00,000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
