What is the prior period item ? and please give some
examples with entries and that account head come under
which ledger(creation of ledger)
Answers were Sorted based on User's Feedback
Answer / venkat
Prior period expense should be current period Provision of Current asset
Prior period income should be current period provision of current liability
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / prachi panadiwal
PRIOR PERIOD ITEM WHICH IS ISSUED IN ONE FINANCIAL YEAR &
CARRY OUT NEXT FINANCIAL YEAR ALSO
E.G IF CHEQUE ISSUED IN MARCH & CLEARD IN MAY TNEN IT WILL
MOVE TO PRIOR PERIOD WHILE BANK RECONCILATION.
Is This Answer Correct ? | 1 Yes | 6 No |
Answer / r sumitra
prior period item are those which arise after the
incorporation but the receipt of certificate of commencement
Is This Answer Correct ? | 0 Yes | 8 No |
Provisioned for electricity for the previous month's bill Rs. 8000 (pass journal entry)
IS CASH DISCOUNT/RECIVED IS OPERATING EXPENSE/INCOME?
how to make budgeting ?
How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?
why should we treat closing stock credit side in trading account , and why the reason the closing stock should not appear in the trial balance ?
3 Answers Capital IQ, XL Dynamics,
WHAT IS THE WCT ON CONSTRUCTION COMPANY AT PRESENT ( 2010- 11)
share premium
3 Answers Capital IQ, Fidelity,
WHILE WORKING DEPERICATION OF AN MACHINERY ASSET WHAT IS THE PERCENTAGE TO BE TAKEN & FOR HOW MANY YEARS IT HAS TO BE TAKEN.
How to post salary advance transfer from one branch to another branch ?
Can u explain Invoice format in details?
what is the differance between bank od and bank occ?
If closing stock is given in adjustments, how we show in tally 9.0 ?