08-01-2011, 09:30 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by salmans322</i>
<br />hi ASA, i m an ACCA student and also doing articles from a firm. nowadays i m doing audit in a company situated in DHA and i m faced with a problem.
i m auditing the accounts from 1/7/2010 to 30/6/2011.
i came across a bill of 12,300 dated 18-6-2010 i.e mobile bought for the employee.
company paid 10,000 on the whole
no recording of discount received
and moreover the bill was recorded on 16/3/2011 i.i the previous year's bill was paid in the current year.
what could be the adjusting entries.
i m looking to anyone's reply who is willing to help me.thanks
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The actual amount of the bill is 12300(Dated 18-06-2010) but enter in 16-03-2011 u have to passed the reverse entry in next date like
Cash/Bank dr (Dated 16-03-2011)
Benefit for employee cr
Dr, cr will be minus
and again pass this entry
Benefit for employee dr (Dated 18-06-2011)
cash/bank cr
so after passing the above adjustment entries the trial balane will remain same thanks
Regards
Sajjad Rehman
<br />hi ASA, i m an ACCA student and also doing articles from a firm. nowadays i m doing audit in a company situated in DHA and i m faced with a problem.
i m auditing the accounts from 1/7/2010 to 30/6/2011.
i came across a bill of 12,300 dated 18-6-2010 i.e mobile bought for the employee.
company paid 10,000 on the whole
no recording of discount received
and moreover the bill was recorded on 16/3/2011 i.i the previous year's bill was paid in the current year.
what could be the adjusting entries.
i m looking to anyone's reply who is willing to help me.thanks
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The actual amount of the bill is 12300(Dated 18-06-2010) but enter in 16-03-2011 u have to passed the reverse entry in next date like
Cash/Bank dr (Dated 16-03-2011)
Benefit for employee cr
Dr, cr will be minus
and again pass this entry
Benefit for employee dr (Dated 18-06-2011)
cash/bank cr
so after passing the above adjustment entries the trial balane will remain same thanks
Regards
Sajjad Rehman
