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Opening balance

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ACCOUNTANT
43 Points Posted on 15 May 2017
I HAVE A CAR LOAN FROM BANK CAN I NEED TO TAKE OPENING BALANCE IN THIS FINANCIAL YEAR
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On 15 May 2017 at 15:18 Report
Replies (9)
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audit assistant
228 Points Posted on 15 May 2017
yes u should. you can adjust the same to capital ac
3 Reply
On 15 May 2017 at 17:02
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ACCOUNTANT
43 Points Posted on 15 May 2017

But car loan account under loan liability head

 

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On 15 May 2017 at 17:37
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audit assistant
228 Points Posted on 15 May 2017
then create equivalent head of asset under fixed assets
3 Reply
On 15 May 2017 at 17:50
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ACCOUNTANT
43 Points Posted on 15 May 2017

thanx mam 

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On 15 May 2017 at 17:59
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Accountant & Tax consulting
42 Points Posted on 19 May 2017

you entered to opening 

1 car loan

Car fixed Assests

 

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On 19 May 2017 at 18:00
Guest

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On 19 May 2017 at 19:04
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ACCOUNTANT
43 Points Posted on 20 May 2017

THANX SIR FOR REPLY

 

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On 20 May 2017 at 12:58
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CA
82 Points Posted on 30 May 2017

yes u should. you can adjust the same to capital ac 

 

1 Reply
On 30 May 2017 at 13:30
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Student
22 Points Posted on 08 June 2017
In the liabilities side ,outside liabilities are increased with a particular Amt and the same was increased on the assets side of B/s and it will be passed to the subsequent year.
1 Reply
On 08 June 2017 at 13:53


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