I am working in a Social Service Organization as a Accountant.
In our organization 2 bank accounts has been closed (dormant account) and no amount has been received from the bank. How can i show this in our financial statements.
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Impact on income & expenditure statement - closure of bank accounts
Replies (5)
If no balance then no need to show in Your FS...
Sir,
Thank you for your reply. But the balances as opening balances are showing in our FS
opening balance are showing in balance then...
what about Your balance amount in bank now or (as on 31st March)
what about Your balance amount in bank now or (as on 31st March)
Sir,
The bank accounts has been closed and received the amount as same as Opening Balances. How can i show this in my financial statements
The bank account is closed and received the amount then why doubt...?!
Provide receipt entry as per Your transactions into bank. After that the balance will be ZEROOOOO...
Provide receipt entry as per Your transactions into bank. After that the balance will be ZEROOOOO...
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