Depreciation

Accountancy

What is the format for provision for repairs and renewals account?

Pooja .

CA Final

★ 210

28-May-20 19:20

715

Answers (4)

When provision created P&LA/c Dr. To PRR a/c When repairs incurred PRR A/c To Repairs & Maintenance A/c

Sudha Reddy

CA Final

★ 20K+

29-May-20 06:18

Thanks

Thread Starter

Pooja .

CA Final

★ 210

29-May-20 17:40

But how is this sum done?? Why is the opening balance is brought down again next year

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Thread Starter

Pooja .

CA Final

★ 210

29-May-20 17:44

Thread Starter

Pooja .

But how is this sum done?? Why is the opening balance is brought down again next year

11,50,000 is the closing balance for 2015-16 i.e. on 31.3.16 so its the openign balance of 2016-17 i.e. on 1/4/2017

Sudha Reddy

CA Final

★ 20K+

30-May-20 08:54