Wip
This query is : Resolved
01 October 2013
1.what is the entry for provissional WIP?
2.after enter in provisional entry RA bill submitted to Client What is the journal Entry?
3.what is entry for Difference in Provission WIP and Submitted RA Bill Entry?
4.Client approved RA Bill Less than the provission and RA Bill? what is the entry?
Please explain in detailed about all the above mention issues and Overall WIP Concept.
2.after enter in provisional entry RA bill submitted to Client What is the journal Entry?
3.what is entry for Difference in Provission WIP and Submitted RA Bill Entry?
4.Client approved RA Bill Less than the provission and RA Bill? what is the entry?
Please explain in detailed about all the above mention issues and Overall WIP Concept.
10 November 2013
1. Dr: WIP(Stock)
Cr: P&L a/c
2. reverse the above entry & pass Dr: Debtors & Cr: Sales a/c
3&4 since the reversing the provision, the difference will be adjusted with p&l
Cr: P&L a/c
2. reverse the above entry & pass Dr: Debtors & Cr: Sales a/c
3&4 since the reversing the provision, the difference will be adjusted with p&l
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Experts need help
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
