Accounting treatment of Difference in Trial Balance
This query is : Resolved
19 August 2009
What should be the accounting treatment in current year of difference in trial Balance in last year balance sheet.
weather it should transfer to capital A/c or transfer to Profit & loss A/c or any other treatment
weather it should transfer to capital A/c or transfer to Profit & loss A/c or any other treatment
19 August 2009
should be transfer to Profit & loss account.
Thanks
Thanks
20 August 2009
I want to know something.
Is your last year balance Sheet audited?How did you treat the difference then?
Is your last year balance Sheet audited?How did you treat the difference then?
20 August 2009
if the dif. is imaterial/small amt charge to p l a/c,otherwise Carrry Forward as suspense in balance sheet to be find out the dif. in future.
20 August 2009
Every debit has its own equal and opposite credit. - Basic logic in Accountancy....
Suggestion - Try to find out the mistake if the diff is massive. If the diff is meager of neglible, just write off if there is a debit balance in the current year P&L or show it as income, if there is a credit balance.
Suggestion - Try to find out the mistake if the diff is massive. If the diff is meager of neglible, just write off if there is a debit balance in the current year P&L or show it as income, if there is a credit balance.
20 August 2009
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sales of goods of amount Rs97 lakhs to a party
- GST rate and HSN code for sale of racing horses
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
