My Client Needs Projected Financial Statements for 3 years. Because he applied for Bank OD facility of Rs.1 crore. Here I disclose the Bank OD of Rs.1 crore as Current liabilities under liability side of balance sheet. My query is how to tally the 1 crore against the asset side?
No. Not mistaken. He is going to get OD. So the bankers asked him to prepare projected statement for 2020-21, 2021-22 &2022-23.
So I want to know how to tally the balance sheet . because liability side is 1 crore OD. and what should be disclose in asset side to tally the balance sheet
You have to make projection of Rs.1 Crore showing where you want to spend this amount, for example you are planning to purchase fixed assets, or may be you are planning to purchase raw materials etc.
He wants to take over another business Enterprise.
Thanks for your guidance.
Purchase of raw material can be shown as inventory?
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