Menu
Entry in a/c
When entry isnt made in a/c .you might say that in uneconomic activity but when there's outstanding amount or anything payable we make its entry in the books even if there's s no exchange of cash..
Replies (3)
Entry Can be made on accural basis if there are accounting system is mercantile and if there are accounting system is cash than entry cannot be made.
Let s a says me that i m gonna buy 1000rs of goods then his accrued amount is 1000 . Then we don't pass it s entry.
Lets say if A has Told me that he's gonna buy goods worth rs. 1000 then we won't make any entry in the books in advance until it s get paid and goods are exchanged then when he says it becomes accrued for him to me. Yet no entry is passed
Recent Threads
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
Related Threads
CAclubindia
