Provisino entry
Querist : Anonymous
In monthly closing ,I have to pay salary,conveyance,printing and postage exp 100000,20000,6000,4000 respectively for the month of Oct 12.
I have passed entry on 31.10.12. following entry
salary dr 100000
conveyance dr 20000
printing dr 6000
postage dr 4000
To respective provision a/c 130000.
I want to know on 01.11.12 what entry to be passed for avobe entry after paymet of this exp.
Regards
1) at the time of provision i.e. 31/10/2012
salary ac.. dr 1000000
conveyance ac. dr. 20000
printing ac.. dr. 6000
postage ac.. dr. 4000
to Provisions ac. 130000.
you have to be passed following entry at the time or after payment of provision amount.
2) at the time of actual payment..
cash/bank ac.. dr. 130000
to provision ac 130000.
Querist : Anonymous
regards
Click here to login now
Similar Resolved Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- ASMT-10 received from A O
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- IT returns for fresh job holders
- ITR-Capital Gain
- Reporting in TDS return
- Traces submitting correction statement error
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
