Forums
Back
Ch11 financial statements unit1
Accountancy
In ch11 FS UNIT1 ILLN 4 Debenture interest has been shown as Current liability and in ILL 6 it is not shown as Current liability, should it be shown or not
Answers (2)
Best Answer
In illustration 4 they did not say anything about payment of debenture interest in trial balance So we have taken it as interest payable and created provision in balance sheet But in illustration 6 there is interest on debenture in trial balance. So the interest has been paid in this question. So we doesn't need to make any provisions
