Treatment of interest accrued on fd

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 August 2011 How to account interest accrued on fd of a trust?

TDS receivable on accrued interest can be shown in balance sheet and gross interest received can take in income and expenditure account....is this correct?

29 August 2011 Dr: Interest accrued a/c
Cr:Interest received a/c

30 August 2011 Dr. Interest Accrued (this will appear in assets side of the Balance Sheet)

Cr. Interest Accrued on FD ( this will appear as income in the Income & Expenditure account)

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 August 2011 Thanks for this valuable information


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