Final a/c
This query is : Resolved
22 October 2013
what is the entry of accrued interest in final a/cs...??
is it appear in Balance sheet under assets side?
22 October 2013
Accrued Interest on Investment A/c.
To Interest on Investment A/c.
{Being interest Accrued transferred to Interest A/c.}
At the time of Maturity
Bank A/c. Dr.
TDS U/S 194A... Dr.
To Accrued Interest on Investment A/c.
To Interest on Investment A/c.
To Investment A/c.
{Being the Investment matured}
To Interest on Investment A/c.
{Being interest Accrued transferred to Interest A/c.}
At the time of Maturity
Bank A/c. Dr.
TDS U/S 194A... Dr.
To Accrued Interest on Investment A/c.
To Interest on Investment A/c.
To Investment A/c.
{Being the Investment matured}
22 October 2013
Yes, can show in "Other current Assets"
.
.
Entry as below,
Dr.Accrued interest [Other current asset]
Cr.Interest income [indirect income]
.
.
at the time of maturity
.
Dr.BankA/c
Dr.TDS receivable
Cr.Accred interest
Cr.INVESTMENT(in case of interest re-invested)
.
.
Entry as below,
Dr.Accrued interest [Other current asset]
Cr.Interest income [indirect income]
.
.
at the time of maturity
.
Dr.BankA/c
Dr.TDS receivable
Cr.Accred interest
Cr.INVESTMENT(in case of interest re-invested)
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