Previous year expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 May 2012
Dear Sir,
if we receive telephone bill in the month of May,2012 for the period 11.03.2012 to 10.04.2012. When we will book expenses in our accounts books?
1. 31st March,2012
2. May,2012
What accounting entry will be passed ?
Plz help me urgently.
if we receive telephone bill in the month of May,2012 for the period 11.03.2012 to 10.04.2012. When we will book expenses in our accounts books?
1. 31st March,2012
2. May,2012
What accounting entry will be passed ?
Plz help me urgently.
CA. RICHI SAXENA
(Expert)
07 May 2012
The expenses will be booked as and when the bill for the same is received by the organisation.
The accounting entry will be
Expense A/c Dr
To Expense Payable A/c Or
To Party A/c( in whose favour amount is to be credited)
CA. Richi Saxena
The accounting entry will be
Expense A/c Dr
To Expense Payable A/c Or
To Party A/c( in whose favour amount is to be credited)
CA. Richi Saxena
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