What should be the Accounting treatment in the books of a Limited Company for following situations : Q 1. what should be the journal entry for payment of Additional Demand of CST on account of assessment of earlier years in the current year. Can it be booked as current year's Expense. Q 2. What would be the journal entry if Bill for Certification services by a CA for the year 2012-2013 is received in 2013-2014 and no provision for the same expense was made in the year 2012-2013
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Accounting entry
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Antipating provisions for expenses to be made. If you fail to privde such provisions take all expenses together in the current year. Narraton must be written clearly year wise.
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