Interested to Buy Any Domain ? << Click Here >> for more details...
what is the journal entry for this situation? and why?
situation:
Gratuity for this year TK1000000,which TK700000 shows in
income statement and TK150000 will shown in next 2 year
each.(this is a management decision)
- 1 Answers
- 3795 Views
- I also Faced
- E-Mail Answers
Answer / darshan
profit & loss a/c........Dr. 700000
outstanding liability....Dr. 300000
To Gratuity a/c 1000000
from the co.s point of view:-
Rs. 700000 is the expense for this year which is
debited in p&l a/c
whereas, Rs. 300000 is the outstanding liability of the
company as 1000000 is gratuity amount for this year and
management decides to show it in next two years equally.
| Is This Answer Correct ? | 2 Yes | 0 No |
Explain about cross functional audits?
0 Answers Ernst Young, Thomson Reuters,
corporate frauds
tds effect in balance sheet if tds receipts
What is meant by Perk?
whether in the case of BIFR scheme the non payment of dividend FOR MORE than 7 years shall go in the Dividend Equalisation fund/ Investors Protection fund
what percent of wages calculate from sales of a firm (registered under manufacturing of machinery spares) sales (appr)- RS.10000000/-
an auditor gave his report and later he found an material misstatement in the financial statements regarding the period for which he gave report.now he is willing to change his opinion.is it possible.
what is opening balance?
what is rate of tds in present financial year
What is mean by error of submission? can u plz provide notes on this?
How auditing is prepared?
What is the mean of decommission liability?
Audit 
