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Interest on investment
one of my client has invested Rs.5 lakhs in 10-11 and now its matured the amount of Rs.5,37,323 but in our B/s we are mentioned accrued interest the remaining the interest i have taken as interest now,whats your suggestion on this.Please ASAP
Replies (1)
By the tem you mean accrued interest, it means that you have been crediting the interest in profit and loss acount and taking to asset in the balance sheet.
So Rs 37323(-) accrued interest in balance sheet is the interest to be charged this year
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