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Final accounts

Accountancy

In this sum there are expenses in opening balance sheet And also some expenses in adjustment Should not we add to original expenses

Prasanth kumar Kamisetty

CA Inter

★ 12K+

16-Sep-20 14:16

320

Answers (2)

The expenses in opening balance sheet are payable i.e they are expenses of last year which are unpaid. If they are paid in current year they do not become current year expenses but just become cash outflow for current year

Sriram Somayajula

Admin

16-Sep-20 14:27

Sriram Somayajula Admin

Thank you

Thread Starter

Prasanth kumar Kamisetty

CA Inter

★ 12K+

16-Sep-20 19:21

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