account correcting entry 點做

2012-07-21 1:42 am

A company annual report ended on 31/12/2011.

The company has been holding a note of $1000000 that pays 10% interest on 30/6 each year since 1/7/2010. The accountant of the company recoreded the interest income on the day when interest was received.

Auditor discover the mistake on 12/2/2012

Tax rate 30%

profit before income tax : 2011>> 5000, 2010>>4000

after correcting the account error is it :

profit before income tax : 2011>> 5000 + 50000, 2010>>4000+50000 ???

note of $1000000x10% /2 =50000=interest income

但點解我老師係咁做: 2011>> 5000 , 2010>>4000+50000

老師錯了 ??

回答 (1)

Maverick

2012-07-25 12:23 am

✔ 最佳答案

因為2010年interest income 在2011年收咗! Correction entries for the 2 years should be:
2010: Dr. Interest receivable 50,000 Cr. Interest income 50,000
2011: Dr. Interest income 50,000 Cr. Interest receivable (for 2010 income received in 2011)
Dr. Interest receivable 50,000 (for 2011) Cr. Interest income 50,000
所以在2011無P/L effect!
希望幫到你!

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