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Cash and cash equivalents

Accountancy

Can you show the treatment of bank and cash in notes to accounts, i am confused if the debit balance should be subtracted or not.

disha sharma

CA Inter

★ 1K+

01-Apr-23 17:23

350

Answers (6)

Full question??

Saravana Ganesh

CA Final

★ 6K+

01-Apr-23 17:53

Saravana Ganesh

Full question??

its 1st question of mtp my 21

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Thread Starter

disha sharma

CA Inter

★ 1K+

01-Apr-23 19:52

Debit balance is as per books. So you are not required to deduct. It should be added.

CA Suraj Lakhotia

Admin

02-Apr-23 16:18

CA Suraj Lakhotia Admin

Debit balance is as per books. So you are not required to deduct. It should be added.

Sir could you please explain it a bit more.

Thread Starter

disha sharma

CA Inter

★ 1K+

02-Apr-23 16:47

Assets - debit balance right So bank balance = asset So it can be added.

Saravana Ganesh

CA Final

★ 6K+

02-Apr-23 17:39

If it is a credit balance we should show it as a bank overdraft in Liabilities side

Saravana Ganesh

CA Final

★ 6K+

02-Apr-23 17:40