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Creditors showing debit balance

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(Querist)
26 October 2007 how it will be shown in financial statement ?
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sannagovindappa.G

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sannagovindappa.G (Expert)
26 October 2007 IT WILL TREAT AS ADVANCES GIVEN TO CRs IN FINAL A/C IT WILL TREAT ADVANCES(ASSETS)
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
26 October 2007 Its advance against supply, or expenses, or any other. It should be shown as advances. but if a creditors is also your debtor, and both the account has net dr. balance then you should show this in debtors.
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Jitender

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Jitender (Expert)
03 November 2007 i agre with mr dashrath
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