Finalisation of balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2013
what should be the reatment if balance sheet does not match?
18 April 2013
If the Balancesheet is not matching then first of all go back to the trial balance. Check the total of trial balance and if there is mismatch then place the difference in suspense account. Thereafter start finding out the differences as we do while finding out errors and ommissions.
18 April 2013
If the Balancesheet is not matching then first of all go back to the trial balance. Check the total of trial balance and if there is mismatch then place the difference in suspense account. Thereafter start finding out the differences as we do while finding out errors and ommissions.
03 June 2013
First find out the difference between assets and liabilities then divide it be 2 to find out whether any debit has been credited or any credit has been debited. If it is not divisible then divide it by 9. If it is divisible then it is clear cut indication that there is mismatch in the figures. you might have taken 9456 as 9546 or like this difference of 90 if divided by 9 it is divisible. So try this.
You can also try the other experts advise but I do not give my consent for doing this as once you have transferred it to suspense it will never be reconciled.
Now, a days it is the computer regime and there cannot be any difference in B/S. I think you are asking for the examination purpose then try my solution.
You can also try the other experts advise but I do not give my consent for doing this as once you have transferred it to suspense it will never be reconciled.
Now, a days it is the computer regime and there cannot be any difference in B/S. I think you are asking for the examination purpose then try my solution.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- Short Term Gain Reporting ITR
- DUE DATE FOR ITR FILING
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Sale of Mutual Funds In Diffirent Financial Years
- Missed TDS
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
