Medal fund(earmarked fund)- a/c last yr was adjusted wrongly against sundry debtors, now how to rectify it in current financial statements.


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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2014 pls reply

28 November 2014 Pass a reversal entry.
Dont forget to record the resolution in the minutes of the meeting in which the same is resolved.

Rupesh Jain (Expert)
29 November 2014 you can reverse the last year entry/

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 should comparatives be restated?

30 November 2014 It is customary to make a foot note rather than CHANGING the comparitives of last year.


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