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
- 3852 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 |
Would you consider alternative vacancies if so which:
What should the internal auditor?
promotions of a new apointed auditor in cgda.
in balabce sheet under what audit fee comes
What is fictitious assets?
Expand---------BRPT
what is a contra entry how it is passed in journal and cashbook?
What was your most rewarding accomplishment of your career and why
what is the abervation of tds
EBIDTA
what do we carry audit
WHAT IS GL RECONCILIATION? WHAT YOU DO IN GL RECONCILIATION?
Audit 
