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Can somebody please tell that what will be the accounting entry from auditor's point of view, If a company receive a bill of Rs. 12000 for AMC of Software for the period from 01.08.2014 to 01.08.2015. bill dated 01.05.2015, Can somebody please tell that what will be the accounting entry from auditor's point of view, If a company receive a bill of Rs. 12000 for AMC of Software for the period from 01.08.2014 to 01.08.2015. bill dated 01.05.2015, what will be entry pass in 01.05.2015 in tally
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Answer / ranjith moovari
Repairs and maintenance a/c ....Dr Rs.8000/-
Cash/Bank....Cr 8000/-
For 1-8-2014 to 31-3-2015 (8 months)
Prepaid expense.. Dr Rs.4000/-
To CashBank... Cr Rs.4000/-
For 1-4-2015 to 31-7-2015
Then on 1-4-2015 a reversing entry should be passed
Repair a/c
to Prepaid rrs.4000
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / saroj_surendran@rediffmail.com
f7 journal
Repairs and maintenance a/c 8000 dr
prepaid repair and maintenance a/c 4000 dr
software maintenance co a/c 12000 cr
being bill received
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / hussein abdirizak
No we can't tel any one, because Auditor is as a Doctor, and Doctor can't able to tell others what he/she saw the patient , so that what ever Auditor seen in the accounting period can't share the others. or can't able to tel the company what they will put their accounting entry.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / navin kumar
01.05.2015 AMC for Software A/C Dr 12000
To Party A/C 12000
(Being bill raised by software company)
| Is This Answer Correct ? | 0 Yes | 2 No |
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