Provision
This query is : Open
03 April 2015
DEAR SIR,
WE RECEIVE BILL FOR OUR CREDITOR FOR RS.3000, FACTORY EXPENSE FOR THE MONTH OF MARCH-15. WE RECEIVED BILL ON 2.4.14 FOR RS.3000. HOW CAN WE PASS PROVISION ENTRY?
I ENTERED LIKE THIS.
31.3.14 FACTORY EXPENSE 3000
TO PROVISION 3000
2.4.15 PROVISION 3000
TO CREDITOR A/C 3000
PAYMENT TIMES
CREDITORA/C DR
TO BANK A/C
AM I RIGHT SIR.
KINDLY REPLY ME IF ANY CORRECTION NEEDED.
WE RECEIVE BILL FOR OUR CREDITOR FOR RS.3000, FACTORY EXPENSE FOR THE MONTH OF MARCH-15. WE RECEIVED BILL ON 2.4.14 FOR RS.3000. HOW CAN WE PASS PROVISION ENTRY?
I ENTERED LIKE THIS.
31.3.14 FACTORY EXPENSE 3000
TO PROVISION 3000
2.4.15 PROVISION 3000
TO CREDITOR A/C 3000
PAYMENT TIMES
CREDITORA/C DR
TO BANK A/C
AM I RIGHT SIR.
KINDLY REPLY ME IF ANY CORRECTION NEEDED.
03 April 2015
yes gopal, your entries are right alternatively a single entry can be made instead of first two entries on 31/03/2015
Factory Exp a/c ....dr
To Creditor a/c
and at the time of payment
Creditor a/c....dr
To Bank
note : assuming that all transactions in the year 2015
Factory Exp a/c ....dr
To Creditor a/c
and at the time of payment
Creditor a/c....dr
To Bank
note : assuming that all transactions in the year 2015
03 April 2015
Just a small joke.
If rajnikant has said that you are right gopal then even president of india cannot tell you are wrong.
Just kidding. Please dont mind 😊
If rajnikant has said that you are right gopal then even president of india cannot tell you are wrong.
Just kidding. Please dont mind 😊
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