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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.
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.....
Ya now I got it....Thank You!
CAclubindia
