Accounting treatment

CA Kishan Kabra (CA) (173 Points)

06 August 2013  

Respected Sir / Madam

Please Give me the suitable treatment for year 2010-11,  2011-12, 12-13 in Receipt and payment account, Income and Expenditure account, and balance sheet.

Payment made by Ram for purchasing assets for Shyam in year 2010-11 for Rs. 10000.

In year 11-12 Shyam did not make any payment to Ram for the purchase.

In 12-13 Shyam made the payment to Ram.


Thanks in Advance.