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Illustration 5 ,in the video ,sir says the closing bal.is debit but in book it s credit .which is correct ?? Plss state with reason

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Reetikaa  R

Reetikaa R

CA Foundation

4K+

03-Apr-21 16:12

61

Answers (5)

Both are correct. The way you understood is wrong.


Meda Jeevansai

Meda Jeevansai

CA Foundation

11K+

03-Apr-21 17:35

Both are correct. The way you understood is wrong.

State the reason also


Reetikaa  R

Reetikaa R

CA Foundation

4K+

03-Apr-21 17:40

Credit balance is correct. Thanks for highlighting will get it rectified.


ruchi lahoti

ruchi lahoti

Moderator

03-Apr-21 18:11

Credit balance is correct. Thanks for highlighting will get it rectified.

Credit balance in pass book means it's not be Overdraft. So if it is o/d then it should be debit balance only !?


Meda Jeevansai

Meda Jeevansai

CA Foundation

11K+

03-Apr-21 18:13

Credit balance in pass book means it's not be Overdraft. So if it is o/d then it should be debit balance only !?

Credit Balance in pass book is a favourable balance. What is your query please elaborate


ruchi lahoti

ruchi lahoti

Moderator

03-Apr-21 18:39

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