Prepaid insurance journal entry
This query is : Resolved
19 January 2012
DEAR SIR,
I HAVE A QUERY :
INSURANCE PREMIUM PAID RS. 10000/- DATED 19.01.2012
SERVICE TAX @ 10.3% RS. 1030/-
TOTAL PAID RS. 11030.00 ( PAID )
KNOW,WHAT WILL BE THE JOURNAL ENTRY TO BE PASSED AS WE HAVE TAKE SERVICE TAX FOR FULL PAID AMOUNT AND HOW TO SHOW PREPAID EXPENSE IN THE B/S.
KINDLY GIVE YOUR VALUABLE ADVISE.
I HAVE A QUERY :
INSURANCE PREMIUM PAID RS. 10000/- DATED 19.01.2012
SERVICE TAX @ 10.3% RS. 1030/-
TOTAL PAID RS. 11030.00 ( PAID )
KNOW,WHAT WILL BE THE JOURNAL ENTRY TO BE PASSED AS WE HAVE TAKE SERVICE TAX FOR FULL PAID AMOUNT AND HOW TO SHOW PREPAID EXPENSE IN THE B/S.
KINDLY GIVE YOUR VALUABLE ADVISE.
19 January 2012
NOT GOT ANY REPONSE
19 January 2012
Dr: Prepaid Insurance Rs.10000
Dr: Cenvat Service tax Rs.100
Dr: Cenvat E.Cess Rs.20
Dr: Cenvat SHE.Cess Rs.10
Prepaid insurance only cane debit to the extend after deducting service tax
Dr: Cenvat Service tax Rs.100
Dr: Cenvat E.Cess Rs.20
Dr: Cenvat SHE.Cess Rs.10
Prepaid insurance only cane debit to the extend after deducting service tax
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