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What does this mean ,bank balance ( cr) ?? Is it overdraft or balance?? State with reason
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Thread Starter
Reetikaa RYes I watched BRS .MY DOUBT IS HOW TO FIND IS IT AS PER CB OR PASS BOOK
Only bank balance balance as per cash book appears in your balance sheet.
It's not overdraft.It stands for CREDIT. A credit balance means you have a deposit into your account like your salary. At the end of the month if the magic acronym CR, appears at the end of your bank statement it means you are a CREDITOR of the bank, they owe you money. They keep YOUR money safe for you.
Meda Jeevansai
It's not overdraft.It stands for CREDIT. A credit balance means you have a deposit into your account like your salary. At the end of the month if the magic acronym CR, appears at the end of your bank statement it means you are a CREDITOR of the bank, they owe you money. They keep YOUR money safe for you.
Then why does debit balance shown on assets side? Look at that first item
Thread Starter
Reetikaa RThen why does debit balance shown on assets side? Look at that first item
It's bank balance as per passbook
Meda Jeevansai
Did you purchase CA foundation course at indigolearn? If purchase watch BRS. Satya Sir explained very clearly and logically
Yes I watched BRS .MY DOUBT IS HOW TO FIND IS IT AS PER CB OR PASS BOOK