Assignment  

Company at the month end estimated that for following Expenses,Bills were not received.

Make Provision for expense for same

Expense Name

Party Name

Amount

Internet Charges

Reliance

2000

Maintenance Charges

Apsara Building Association

1500

Electricity Expense

BSES

9000

Water Expenses

Delhi Jal Board

500

Total

 

13000

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Next month, Bills of following amount were received regarding these expenses

 

Expense Name

Party Name

Amount

Internet Charges

Reliance

2700

Maintenance Charges

Apsara Building Association

1400

Electricity Expense

BSES

9300

Water Expenses

Delhi Jal Board

200

Total

 

13600

 

Pass Entry for Next month also

View Answer

 

  1. Accounts and Finance
  2. Step 3 Passing Book Closure Entries
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
  • Asha Bhatia's image

    Hello sir

    In the above question --for writing off the excess provisions

    provision for expenses must be debited instead of Apsara building and Delhi jal Board as per my thinking. i might be wrong as i am not very good at accounts.. kindly advise

     

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  • hem1717's image

    Respected Sir/Ma'am!

         In above head "Provision for Expense (Expense payable) Entries Practice Assignment" , Answers are not visible at all, clicking on "View Answer" changes to just "Hide Answer" without showing detailed solution under both heads, i.e. "Company follows Expense Payable Method" and "Company follows Provision for Expenses Method". Please look into this and make the solutions visible.

    Thanks in advance,

    Hemant

    View answer