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Accountancy

If I have Rent paid 15000 in Final account as an adjustment I will Dr it in P/L...my doubt is Since I'm paying can I reduce 15K in Cash ac in Balance sheet

Dhakshana Dhakshana

CFA L2

★ 18K+

23-Sep-21 16:15

622

Answers (7)

No bro Already deducted when you Calucated Net profit or Net Loss Transfer to balance sheet liabilities side

Rishi Kumar

CA Inter

★ 6K+

23-Sep-21 16:18

If a cash received from debtor then what bro?

Thread Starter

Dhakshana Dhakshana

CFA L2

★ 18K+

23-Sep-21 16:21

Accounting treatment

Thread Starter

Dhakshana Dhakshana

CFA L2

★ 18K+

23-Sep-21 16:21

Thread Starter

Dhakshana Dhakshana

If a cash received from debtor then what bro?

Cash a/c Dr. To Debtor a/c Cash or bank is an asset Adjust in balance sheet asset side

Rishi Kumar

CA Inter

★ 6K+

23-Sep-21 16:26

Ok bro..If we made a sale of 5L out of which 2L payment is due or payable now what is the accounting treatment in trading &p/l and B.S

Thread Starter

Dhakshana Dhakshana

CFA L2

★ 18K+

23-Sep-21 16:31

{ Note : I don't know whether this answer correct or wrong } When we made credit sales Account receivable a/c Dr. (Credit sales ) 2,00,000 To sales A/c 2,00,000 In balance sheet short term asset 2,00,000 In income statement Increase sales by 2,00,000

Rishi Kumar

CA Inter

★ 6K+

23-Sep-21 16:44

Ok thanks

Thread Starter

Dhakshana Dhakshana

CFA L2

★ 18K+

23-Sep-21 17:01