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Illustration 2 chapter 2
Accountancy
Here bank amount worth Rs 5000 isn't included in balance sheet neither in both column of assumption of going concern or not a going concern and the balance sheet isn't likely to tally. No additional info is given regarding treatment of this account(bank) 1st 2 photos from lecture 3rd photo my practice book 4th photo from notes
Answers (7)
Sudha Reddy
Please upload the lecture pictures...
Mam SS cannot be captured and i think so they have assumed cash and bank balance to be included together amounting Rs.37100 and sir didn't specify in his lecture only by assumption we can tally the balance sheet
Sudha Reddy
can you please give us the module and video number
The closing balance as written in the solution is cash and bank balance. The opening balance of 5,000 is not relevant to prepare closing balance sheet. ALso the question does not have any other information for us to compute the closing balance.
