This organisation is having differences in the bank ledger, related to the year 2014.
I have worked out the differences which amounted to Rs. 2,30,000.
The books were being audited from the beginning but differences of the bank account were not sorted ever.
How would i make the entries in the books as on 31-03-2020.
Menu
Previous Bank Differences
Replies (3)
Debit or Credit to Suspense account till its realise the facts.
Sir, i have sorted out the entries responsible for the differences.
An amount of Rs. 2 lacs was wrongly shown as income in the year 2014, however it was actually the cheque (donation) amount which was deposited and already taken into account as income.
And some cheques (for payment), which were given by this office, were never presented by the persons to the bank.
An amount of Rs. 2 lacs was wrongly shown as income in the year 2014, however it was actually the cheque (donation) amount which was deposited and already taken into account as income.
And some cheques (for payment), which were given by this office, were never presented by the persons to the bank.
better concern your internal auditors.
Recent Topic
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
- Gold/silver etf. STCG. how to decalre in ITR at s
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
Related Topics
CAclubindia
