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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Dep. as per companies act
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- UDIN ISSUE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Tax rate change regarding
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- 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?
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
