Hi friends,
Can u guide me on following matter :-
1) IN case of Defined Benefit obligation, if we are paying Contributions to LIC, then the amount paid as premium will go in which account ?
Thanks
Chetan
Chetan D. (Management Accountant) (89 Points)
16 July 2010Hi friends,
Can u guide me on following matter :-
1) IN case of Defined Benefit obligation, if we are paying Contributions to LIC, then the amount paid as premium will go in which account ?
Thanks
Chetan
CA lakshmikanth
(Chartered Accountant)
(238 Points)
Replied 16 July 2010
it is expenditure to the company so charged to revenue in a approprite account