Prior Period Adjustment is usually of form Prior Period Exp Dr To Party or Party Dr To Prior Period Income Here,prior period Expense is Indirect expense Prior period Income is Indirec

Answer of this question

Dear Sir, Prior year adjustment & Misc Debtors relies which group in tally?

Davneet Singh

Prior Period Adjustment is usually of form

Prior Period Exp Dr

To Party

Party Dr

To Prior Period Income

Here,prior period Expense is Indirect expense

Prior period Income is Indirect Income

Party is either Debtor or Creditor

Written on Sept. 15, 2016, 9:14 p.m.

Comment

Class 6