Prior period item
This query is : Resolved
30 October 2008
in the previous year's audit of a company
1.A liability was treated as expense and i want to show the same as a liability this year.
2.An asset was omitted altogether and this year the same has been sold.How to bring the asset into the books.
Journal entries with explanation would help.
1.A liability was treated as expense and i want to show the same as a liability this year.
2.An asset was omitted altogether and this year the same has been sold.How to bring the asset into the books.
Journal entries with explanation would help.
30 October 2008
Please state the items exactly.
30 October 2008
Pls state clearly, when you forgot to show the assets in books, where was the second effect taken for that ommission, (Whether in cash, bank or creditors). Only then, corrective measures can be taken, during the year.
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
- GST Regis.
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
