Cash in hand
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2012
Dear Expert,
One of my client is a partnership firm having 6 partners. On 31 March 2012, cash in hand of the firm is coming to 5 lacs.
Should I show the same figure of cash in hand or reduced it by appropriating it in any other entry.
Please advise me.
One of my client is a partnership firm having 6 partners. On 31 March 2012, cash in hand of the firm is coming to 5 lacs.
Should I show the same figure of cash in hand or reduced it by appropriating it in any other entry.
Please advise me.
26 August 2012
You may Either show as Cash in Hand or You can show as Loan to a Partner or Partner's as on 31.03.2012,
and again you can change it to Cash from 1.04.2012.
and again you can change it to Cash from 1.04.2012.
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