Prior period expense
This query is : Resolved
02 May 2014
Sir
I want to ask , if any accounting entry either expense or income of last year was left out after audited Balance sheet , How to accommodate same in current year?.
If it is prior period expense in current year , How to show it , please give an example.
Thanks in advance .
I want to ask , if any accounting entry either expense or income of last year was left out after audited Balance sheet , How to accommodate same in current year?.
If it is prior period expense in current year , How to show it , please give an example.
Thanks in advance .
13 May 2014
it must be booked in prior period expenses or prior period income as the case may be
13 May 2014
Thanks Sir , But where to show such type of expense or income ? in P&L or Balance sheet , and under what account head ?.
15 May 2014
ofcourse in P&L under prior period income/expenses head
Message likes :
1 times
15 May 2014
Thanks ones again .
Thanks ones again .
19 May 2014
my pleasure to help you...
19 May 2014
Sir
One more thing , I want ask about date , what date will be applicable for such type of exp or income ? , because date on invoice will be of last year and we are posting in the current year.
Sir
One more thing , I want ask about date , what date will be applicable for such type of exp or income ? , because date on invoice will be of last year and we are posting in the current year.
19 May 2014
Date shall be on which you are booking income or expense... though you have to put invoice date which is actual.
19 May 2014
OK ,Sir Thanks .
OK ,Sir Thanks .
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
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
