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Co x made a mistake in the purchases a/c and had enetered Rs.1000 instead of Rs.10000 in the yr 07-08.2.What should be the treatment if the books of accounts are not finalised?
3.if the books of acc*nts are finalised should he give effect in the yr 08-09?
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adjustment is to be made in march 08 if balance was not yet finalized otherwise show as prior period item in year 08-09
| Originally posted by :MOHD GOUSE | ||
| " | adjustment is to be made in march 08 if balance was not yet finalized otherwise show as prior period item in year 08-09 | " |
yup since its an error its a prior period item..
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