Treatment of interest accrued on fd

This query is : Resolved

Querist : Anonymous

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?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 August 2011 Dr: Interest accrued a/c
Cr:Interest received a/c

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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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

Querist : Anonymous (Querist)

30 August 2011 Thanks for this valuable information

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