Accounting question for un accounting cash

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B.com
3025 Points Posted on 11 November 2021
a business person accounting books maintained example rs:50,000/- amount un account cash show in books
cash on hand as per books rs:2 lacs
cash on hand as per trade rs:2,50,000/-
question:
a person difference amount rs:50,000/- un accounting cash how to adjustment procedure in books.
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On 11 November 2021 at 22:18 Report
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Quick Summary
This discussion addresses how to account for a Rs. 50,000 discrepancy in 'unaccounted cash' within business books. Suggestions include treating the amount as a gift received (exempt up to Rs. 50,000) or as drawings. The core issue is reconciling the difference between cash on hand as per books (Rs. 2,00,000) and as per trade (Rs. 2,50,000).

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CA
10436 Points Posted on 11 November 2021
You can show it as a gift received from a relative or even from non relatives bcoz gift received upto 50000 is exempt
4 Reply
On 11 November 2021 at 23:18
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Chartered Accountant
24588 Points Posted on 12 November 2021
No problem show as drawings
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On 12 November 2021 at 06:03

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