Accounting entries allowed in it act
This query is : Resolved
Kollipara Sundaraiah
(Querist)
10 March 2021
It Assess unsecured loan and cash loan to debtor outstanding balance as on 31-03-20 show in books
Unsecured loan balance Rs:4 lacs
Cash loan to debtor Rs:5 lacs.
Assess unsecured loan Rs: 4 lacs balance transfer to cash loan to debtor account adjustment Contra accounting entries passed in f.y.20-21.
2.difference amount Rs:1 lacs cash receipts from cash loan to debtor
Question:
Assess above adjustment entries passed allowed in it act.
Unsecured loan balance Rs:4 lacs
Cash loan to debtor Rs:5 lacs.
Assess unsecured loan Rs: 4 lacs balance transfer to cash loan to debtor account adjustment Contra accounting entries passed in f.y.20-21.
2.difference amount Rs:1 lacs cash receipts from cash loan to debtor
Question:
Assess above adjustment entries passed allowed in it act.
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