Interested to Buy Any Domain ? << Click Here >> for more details...
ESI payable in the year 2010 was Rs.11000 but not accounted
for by mistake in that year.It was paid in the year
2013-14. Then what will be the journal entry?
- 3 Answers
- 6016 Views
- I also Faced
- E-Mail Answers
Answer Posted / baahubali
First you pass the Journal entry in the year 2010 as below
Esi A/C----Dr 11000
To Accrued Expenses Year end A/C----Cr. 11000
Now this 11000 is Outstanding payment So, entry at the time
of Payment is
Accrued Expenses Year end A/C ----Dr 11000
To Cash/Bank A/c---------Cr 11000
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
There is no item category assigned to account
If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes
What is band and why the company needs this?
how to calculate the per unit cost of production
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
What action could be taken by you and your manager to improve your performance in your current position?
What are the elements of the accounting equation?
In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.
What is "deposit in transit"?
Recent trends in Corporate Governence?
What is the rate of penalty charged when the given Vat Cheque dishonoured?
What is fair value accounting definition?
Define depreciation and its types?
Tell me how can you explain the basic accounting equation?
