If we pay the wages to a person in compliance of decision of a labour authority,where we shoul book in accounts,I mean under which head because it was not provided liability due to its uncertainity.Value is over two lacs
I need a guidance,Please.
2 Replies
satish
(teaching)
(2046 Points)
Replied 29 December 2017
amount which is relating to current year to be shown under normal salaries and wages a/c.
amount which is relating to previous years to be shown as prior period item. As per AS 5 is applicable. It is to be shown separately.
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