Gauri Agarwal (Not applicable) (181 Points)
17 December 2012
 |
|
|
Payments Amount
Billiard Table 8000
Information:
Billiard Table costing Rs30000 was purchased during the last year and Rs22000 were paid for it.
what will be the treatment of above question in Income and Expenditure account and Balance sheet.
Please help.
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 17 December 2012
No effect in Income & Expenditure account for current year.
And the same were purchsed during last yeear and 22,00 had been paid so In opening Balance Sheet Rs. 8000 is to be considered as a creditors for billiard table.....
Regarding currnet balance sheet the total amount of Rs. 30,000 is to be shown as an asset.
Hope you got it.....
preet kaur
(9 Points)
Replied 17 August 2017
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
