Easy Office
LCI Learning

Creditors (Dr)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
06 September 2009 Sir

By which name should Dr balance of creditors be shown in Balance sheet of a proprietor?

Thanks
Profile Image

Jitender

Profile Image

Jitender (Expert)
06 September 2009 Loans & Advances
Profile Image

CA CHINTAN AJMERA

Profile Image

CA CHINTAN AJMERA (Expert)
06 September 2009 Two Thing is possible for Debit balance
1. Advances given to creditor.
2. Purchase Returm

show Debtor net or Advances in B/s.
and in I.T.R.4, showing Debtor net or Show in Advances receivable in cash or kind.



Profile Image

CA Binal Shah

Profile Image

CA Binal Shah (Expert)
07 September 2009 hi,
Dr bal of creditors is shown under the head adv recd from creditors under Loans & advances at asset side in b/s.
Profile Image

seema chouhan

Profile Image

seema chouhan (Expert)
07 September 2009 i totally agree wit chintan
Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Expert)
08 September 2009 agree , one more reason for dr balance would be........ payment made but no bill received.
its happened in real estate business

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link




Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links