After closing the financial year i.e. 31st march.,
you have received a teliphone bill on dated 1st april
( And the bill was for the month of 1 mar to 31st march
i.e closing year's last month)what treatment you will do in
current financial year and closing financial year.
Answer Posted / agboola oluwadare
DR Retained Earning B/f from the Preceeding Month.
CR Telephone Payable a/c (Sundry Creditors)
Note:Matching Concept.
DR the Telephone Charge in the Current Month can only
increase the liability for that month, whereas, the
liability is not enjoyed in that month.
Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
How to answer for the question, tell me about ur project? I mean in which format can i say?
What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times
what is the good prasentation on interview
Up to what time we can show TDS Receivables under Advance Income Tax A/c?
hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com
PO Amount is 100000 Jv is Purpose A/c To Party A/c First payment is 10000 TDs is 1000 What is the Payment enter in tally
what about case study
what is pre settlements and post settlements in Derivatives?
different between acconting and elective mathematics
What is the Formula For Return on Working Capital
Mostly what type of manufactures are coming under TDS and basic rate for each category
What do you mean by Green-shoe option?
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
what is waybill key number & how can it be issue?
what are your plans after completing your MBA (or) studies ?