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Querist : Anonymous

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Querist : Anonymous (Querist)
20 April 2011 hey guys help me pls
Rs. 400 paid for Municipal Taxes appearing on Payment side of receipts and payments A/c
for the year ending 31st March, 2011
Adjustment:-
Municipal Taxes Rs. 400 per year have been paid upto 3oth June, 2011
plz tell me how to treat the above...........i m little bit confused... would there be any prepaid taxes during last year.

20 April 2011 Entry at the time of payment

Munciple taxes A/c Dr
to Bank A/c

Transfer to Pre paid expen.

Prepaid Exp Dr
To Munciple Taxes



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