Revised schedule vi

This query is : Resolved

jomit (Querist)
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23 August 2012 Dear Experts ,
There is one bank account which has credit balance , pls tell me where should i classify the same in revised schedule vi.
I will be very grateful if you help me to solve this problem..

Sanket

Sanket (Expert)
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23 August 2012 It may be Bank OD or CC....
You can write under the head secured loan in Liability side...

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SANYAM ARORA

SANYAM ARORA (Expert)
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23 August 2012 Under the Head Current Assets

Sanket

Sanket (Expert)
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24 August 2012 @Sanyam Sir.. How....???? Plz explain ...

jomit

jomit (Querist)
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24 August 2012 Thank you for kind reply , but here in this case this is not an OD account instead it is a current account which has crdedit balance , can it be disclosed as unsecured loan under short term borrowing.? pls give me a reply..

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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25 August 2012 Since This is Current Account, You Show It Under Bank Account Only By Giving Negative Figure in Bracket.
No Issue in That.

Regards,
CA Ayush Agrawal

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