Dear All
Please light on this question it was asked by the interviwer from me on a Telephonic conversation.
Suppose you have a debtor amounting Rs. 5 lacs and it is your one year old debtor ok!
also we have a security deposit of Rs. 15 lacs from him/her then what will be your action on it with related to term "Ageing"
moreover, he said that TURNOVER is also relevent factor to this question.
but i was not answerable to him..........pl. clarify.
its one year old it meens discontinue business. so we will adjust from security. so we calculate inyerest on security balance amount. if he continue business then it will reversed and adjust in future transactions.
need more clarification please!
SSGS and Associates
Chennai
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
