It advance & payable treatment
This query is : Resolved
04 March 2014
IT advance paid for the year 12-13 was Rs.1 lakh. Provision made for Rs.80,000/.
Is this entry correct?
Provision a/c Dr. Rs.80,000
IT refund receivable a/c Dr. Rs.20,000
To IT Advance a/c. Rs.1,00,000
Is this entry correct?
Provision a/c Dr. Rs.80,000
IT refund receivable a/c Dr. Rs.20,000
To IT Advance a/c. Rs.1,00,000
04 March 2014
Yes the journal entry is correct.
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 Refund SB005 Error
- Notice u/s.148- Asstt.Year 2015-2016
- Invoice Numbers WROGLY ENTERED
- TDS on purchase of value vouchers for employees ?
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
