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Revised schedule vi

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(Querist)
01 July 2014 Dear Experts,

How to disclose debit balance of cash credit account (Working Capital Loan with the bank) as per revised schedule vi.
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Sandeep Dharar

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Sandeep Dharar (Expert)
01 July 2014 U must show it under Cash and Equivalents under Current Assets as negative Balance. Or u can also show it under Short term Loans under Current Liability.
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CA Sumit Kumar Drolia

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CA Sumit Kumar Drolia (Querist)
01 July 2014 Dear Sandeep Ji

My books of accounts is showing debit balance of CC A/C.



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Sandeep Dharar

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Sandeep Dharar (Expert)
01 July 2014 Then do the vice versa. show negative balance in CL or add with CA. Better to show in CL as negative amount.

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