I have received cheque on 20.03.07 & I have not deposited it into bank till 31.03.07 (end of the financial year.)
so what entry should i pass in my books on 31.03.07?
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accounts related query
Replies (9)
Did You Deposited 31.03.07 or not?
Cheques in Hand Account Dr.
To Party Account
Had you deposited, the obvious entry would have been Bank A/c Debit and credit from whom you received. But since u said u have not deposited, you can as of now pass entry Cheque in hand A/c debit and credit the concerned account. After you deposit, you can pass Bank debit and cheque in hand credit.
Cheques in Hands Debit
Party Credit
Show Cheques in Hand as a separate line item in schedule of Cash & Bank Balance
i want to know about the graduitycalculation
you made entry in the books of account by Dr to bank and cr to party.
this entry will reflect in bank RECO.
you can not Dr. Cheque in hand A/C
i have a query if i want to increase profit by 25% how it prepare in balancesheet
Cheques in Hands DR
To Party A/C
Cheques in Hands Will be shown as seprate item in Schedule of cash & Bank Balance
Where Cheques in hand to sbe shown in the Balance sheet?
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