example :
A business person purchase of new apartment value rs:30 lacs .but cash on hand balance rs:25 lacs available in books as on apartment purchase date.
question:
If person rs:5 lacs cash shortage amount how the increased procedure cash balance in books as on apartment purchase date.
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Accounting question for cash balance
Replies (3)
Quick Summary
Is the cash on hand balance consists of hard cash or it includes bank balance as well.
normally purchase of properly in cash shouldn't be done. everything shud be through bank.
normally purchase of properly in cash shouldn't be done. everything shud be through bank.
Purchase should be through bank
All the transactions in case of purchase of immovable property to be done through Bank. Either payment is made through DD or Account payee Cheque or any other mandatory e payment system of banking transactions such as neft Or rtgs
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