In monthly closing ,I have to pay salary,conveyance,printing and postage exp 100000,20000,6000,4000 respectively for the month of Oct 12. I have passed entry on 31.10.12. following entry
salary dr 100000 conveyance dr 20000 printing dr 6000 postage dr 4000 To respective provision a/c 130000.
I want to know on 01.11.12 what entry to be passed for avobe entry after paymet of this exp.
31 October 2012
You have been passed provision entry is as 1) at the time of provision i.e. 31/10/2012 salary ac.. dr 1000000 conveyance ac. dr. 20000 printing ac.. dr. 6000 postage ac.. dr. 4000 to Provisions ac. 130000. you have to be passed following entry at the time or after payment of provision amount. 2) at the time of actual payment.. cash/bank ac.. dr. 130000 to provision ac 130000.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
31 October 2012
It means no any entry is passed on 01.11.12 .entry will be passed when payment is made regards
CAclubindia
