A/cing cash shortage.
This query is : Resolved
Dinu Chandran R
(Querist)
02 July 2013
Hai all..
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.
03 July 2013
whatever amount is paid by chairman pass the following entry for that amount
cash a/c dr to chaiman(loan) a/c cr
cash a/c dr to chaiman(loan) a/c cr
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Dinu Chandran R
(Querist)
04 July 2013
But madam I told u na that cant be A/ced in books..I will have to show some other source for same. Can I show some unsecured loan to maintain cash balance in beginning of period and pay off d same by end of d year...?? Kindly remember its a public company and its possible legal consequences..Thank You
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