there is a payment for which chq is issued in march but cleared in April.
Which bank balance should reflect in balance sheet? balance as per bank book maintained by client or bal as per bank statement ?
Hi..!!
You can show balance as per bank book maintained by the client since the liability has been reduced on the same also you have verified the subsequent clearance of the same.
On the other hand you can increase back the liability and can show cheque in transit.!!
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
