Process of deposit the stock Statement for a CC a/c in Bank
This query is : Resolved
27 October 2010
I want to know the process or calculation for submitting the stock statement in the Bank. As per my knowledge the 25% of the CC limit is a margin money and the balance 75% is to be shown in the stock statement. So please tell me the calculation process for submitting the same.
Dinesh
Dinesh
27 October 2010
Month End Balance stock 25000 less margin 6250=18750 Debtors 10000 less Margin 4000= 6000 Total Drawing Power (Stock +Debtors) 24750
Above is simple example for stock statement. Normally Margin for debtors are 40% but you should refer sanction letter of the bank. Also Give details of Opening Stock+Purchase-Consumption = Closing Stock
Above is simple example for stock statement. Normally Margin for debtors are 40% but you should refer sanction letter of the bank. Also Give details of Opening Stock+Purchase-Consumption = Closing Stock
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