Expense overbooked in last year

CA Devesh Thakur (CA ) (303 Points)

30 November 2014  

My assessee has overbooked expense in the last year P/L A/c via rent of exhibition for 1,50,000/- which includes 10,000/- refundable security. Accounting entry for refundable security was not passed in the last year & the same has been received in this year.

What should be the correct accounting treatment in this year. anyone plz suggest.

 

Regards