Closing balances - Assets, Capital and Liabilities

Accountancy

Sir, we have generalized the idea as, generally asset have Dr balance and Capital, Liabilities have Cr balances. Can you give some examples where there are exception to this general rule. [Video Time Stamp: 02:30] Video Details ------------- Accounting - CA Foundation (New) Ledgers #6. Closing balance for Assets and Liabilities

Vignesh Venkatesan

CA Final

★ 5

12-Aug-25 16:46

219

Answers (1)

(Updated)

1. Bank account may have a credit balance if overdrawn, which is technically a liability. 2. if a company overpays a vendor or creditor, the related account payable may show a debit balance until adjusted.

CA Suraj Lakhotia

Admin

13-Aug-25 20:11