Dear Members,
Our Company had made a provision for proposed Dividend and DDT in 2014-15 Rs.15Cr. and Rs. 2.5Cr .
But Actual Payment was made after AGM was Rs.12Cr. and Rs. 2Cr.
Please advise the entries to reverse the excess provision.
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Entry for last year provision reversal
Replies (1)
Debit the provision for Dividend a/c and credit P & L a/c with the difference amount between provision amount and actual paid amount
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