Balance sheet

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I am preparing balnce sheet of my client,my client has taken CC limit of rs 10 lakhs from sbi ,I want to know what to take in liability side of balance sheet ,whrther entire amount of rs 1000000 or cleared balance as shown in statement i.e. Rs.954566.00.

 

Please help 

Replies (8)
Show Rs 954566.00 under secured loan in the liability side
Balance in bank statement should be shown in balance sheet whether it is debit balance or credit balance.
show Rs.954566 under secured loan

Only amount upto Date in BS  Should be shown

The Current Outstanding amount should be shown.

First reconcile as Bank Reconcilation and than show the actual payable to bank by your client.. shown under the head secured loan since stock is hypothicated.. CC limit you treat like bank account only diffrence its start with liability..

VERY SIMPLE ,,, ONLY SHOW CLOSING BALANCE IN B.S. AS SAME OF CC ACCOUNT STATEMENT ON 31 MARCH AS A SECURE LOAN (LIABILITY)

Thanks Guys for your help

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