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Ramanuj (Accountant.)     20 June 2015

Balance sheet made or receipt baisis or accurel

Dear all

I want to know about Balance sheet make of receipt basis or accurel basis. some tuition fee receipt in march,15 but Classes cancelled in April.  how  to do ? please advice.

thanks & regards

Ramanuj

 



 1 Replies

CA Suri Kota

CA Suri Kota (Assistant Manager @ EY)     25 June 2015

All the books of accounts are made on accrual basis.

In you case as you received in advance from customers for which classes cancelled, as on 31st March , put them under Liablities as Adv received from customers.

 


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