kindly let me know what accounting enteries to passed for
1. when fbt amount becomes due quaterly
[Praveen Boda] FBT Expense Dr
FBT Payable Cr
2. when fbt amount is paid .
[Praveen Boda] FBT paid in Advance Dr
Bank Cr
In the financials, show the net off between FBT Payable & FBT paid in advance.
and what will be presenation in financial statements.
Regards
ashok malhotra
CAclubindia
