kindly let me know what accounting enteries to passed for
1. when fbt amount becomes due quaterly
[Praveen Boda] FBT Expense Dr
FBT Payable Cr
2. when fbt amount is paid .
[Praveen Boda] FBT paid in Advance Dr
Bank Cr
In the financials, show the net off between FBT Payable & FBT paid in advance.
and what will be presenation in financial statements.
Regards
ashok malhotra
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Accounting enteries for fbt
Replies (3)
see icai guidelines on the issue
FBT Dr
Provision Cr
and then on payment: Provn Dr
Bank Cr
Provision Cr
and then on payment: Provn Dr
Bank Cr
see icai guidelines on the issue
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