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Prepayments..

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(Querist)
28 July 2015 We paod rent for the year 2015.. how do we account in 2014 financial..
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
28 July 2015 If Liability is for F.Y. 2014-2015 and Paid in F.Y. 2015-2016 then you have to show rent as Payable as on 31.03.2015.
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