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Accounting from Incomplete records
Accountancy
Current account as on 15-3-2022:- A rs. 5,000(Cr.), B rs. 2,000(Dr.) What does it mean, i.e. in current account on 15-3-2022, where it will appear for A and B
Answers (5)
In their respective places,unlike capital a/c generally cr balance unless the que indicates capital a/c -dr balance r is shown in assets side In current ac, A will be shown in cr side n B will be shown in dr side of the current ac as balance c/d r b/d as the case may be
CA Suraj Lakhotia Admin
Credit balance is a liability Debit balance to be shown as asset.
Sir is this correct. And even if it was as closing it will appear on this side only?
