Interest received
Pradeep Kumar Reddy (Accounts Excutive) (68 Points)
26 February 2018
Interest received a/c show in p&l credit side but which side show balance sheet?
8 Replies
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 26 February 2018
not to be shown @ Balnce Sheet
only if interest is accured then under Current Assets in BS
Rahul Prajapati
(Student)
(2282 Points)
Replied 26 February 2018
WHEN YOU WILL TRANSFER PROFIT OR LOSS FROM P&L ACCOUNT THEN ITS EFFECT WILL AUTOMATICALLY COMES IN BALANCE SHEET.
ONLY ACCRUED AND UNEARNED PROFIT IS BEING SHOWN IN P&L ACCOUNT.
akshay
(article)
(105 Points)
Replied 26 February 2018
If interest is received then corresponding entry will impact bank account. If it is accured then it will clubbed under Fixed deposit under Ind As accounting since there is no concept of accural of income in Ind as
akshay
(article)
(105 Points)
Replied 26 February 2018
If interest is received then corresponding entry will impact bank account. If it is accured then it will clubbed under Fixed deposit under Ind As accounting since there is no concept of accural of income in Ind as
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