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Present in Balance Sheet

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(Querist)
28 May 2008 During the year 2007-08, we received advance from our debtors. Now in the debtors ledger, there is a credit balance... which include some debtors (dr. Balance ) and some debtors (Cr. Balance)and net debtors is credit balance.

How this will be present in Balnce Sheet as per Shedule VI?
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Reetika Goel

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Reetika Goel (Expert)
28 May 2008 The debtors having debit balance will be shown on the asset side under sundry debtors.

and, debtors having credit balance at the year end shall be included in the list of sundry creditors.

bt still u confirm it from sm senior person...
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
28 May 2008 no, not in the list of sundry creditors, the credit balance of debtors will be shown under "advance from customers" in current liablity
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