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previous year tax adjustment (i.e. short/excess provision)
on completion of its assessment in current year should be
shown in p&l a/c or p&l appro.a/c?
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Answer / lokesh
The previous year tax adjustment on completion of its
assessment in current year should be shown in p&l appro.
a/c.
| Is This Answer Correct ? | 17 Yes | 1 No |
Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c
i want to wearies heads under direct expenses and indirect expenses
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