Balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2012
Dear Expert,
Suppose an assessee deposited with a company Rs. 4.30 lacs as security and company provided him goods of same price for trading and assessee is bound to maintain stock least equal to security money at his business place.
Now when finalising balance sheet, it is better to put security amount in current assets or to put closing stock in current assets. If I puts both head then it will increase the assets side upto 4.30 lac than liability side.
Please advise me.
Suppose an assessee deposited with a company Rs. 4.30 lacs as security and company provided him goods of same price for trading and assessee is bound to maintain stock least equal to security money at his business place.
Now when finalising balance sheet, it is better to put security amount in current assets or to put closing stock in current assets. If I puts both head then it will increase the assets side upto 4.30 lac than liability side.
Please advise me.
CA Ayush Agarwal
(Expert)
08 September 2012
Treat Both Differently.
Show Deposit Under Advance to Supplier/or Under Deposit.
& Closing Stock Separately.
& Any Current Amount Due to Supplier Show Under Sundry Creditors.
Show Deposit Under Advance to Supplier/or Under Deposit.
& Closing Stock Separately.
& Any Current Amount Due to Supplier Show Under Sundry Creditors.
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