Dear Experts,

What would be the treatment of one time non refundable Joining fees for availing the Club Facilities. My view is since it is 1 time fees it could be included in Capital Reserve.

But our Auditor is of the view it should be treated as Income for the year of receipt.

please share your thoughts on the issue

what is Non current assets.

Kind Attn :Dear Sir/Mam

Pls adv:

Our Vendor has deducted TDS on us. Details as follows:

Amt to be paid to vendor.......
less Commission given to us by vendor........
TDS Deducted by vendor.........
Total Payable by us to vendor..........

Kindly explain the Dr and Cr entries.

Thanks

Gurvinder Singh

1) If a creditor has credit balance as well as short term loans and advances are appearing in its name, can they be adjusted and a net position for the creditor be shown?

2) A debit balance for a creditor will be classified as short term loans and advances or other current liabilities?

Thankyou.

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