IndigoLearn

Forums

Back

NPO

Accountancy

Do we record current A/c balance of pass book which is given in Receipts & Payments A/c while preparing opening and closing balance sheet . If not why don't we record . Please explain ....

Jahnavi Jaijapuram

CA Foundation

★ 6K+

06-Nov-22 18:51

428

Answers (8)

Normally we add them right

Anand Sankaran

CA Inter

★ 3K+

06-Nov-22 18:59

Yes, it should be recorded, because that is an asset (cash at bank)

Jaswanth P

CA Inter

★ 3K+

06-Nov-22 20:00

Pls share the question so that we understand the context

CA Suraj Lakhotia

Admin

07-Nov-22 06:57

In Illustration no. 4 sir

Attachments

Thread Starter

Jahnavi Jaijapuram

CA Foundation

★ 6K+

07-Nov-22 08:16

Thread Starter

Jahnavi Jaijapuram

In Illustration no. 4 sir

See there is bank overdraft in liability side

Anand Sankaran

CA Inter

★ 3K+

07-Nov-22 08:30

Anand Sankaran

See there is bank overdraft in liability side

Yes . But I have a doubt are current account's balance only used for repairs or expenses on fixed asset or any other expenses too .

Thread Starter

Jahnavi Jaijapuram

CA Foundation

★ 6K+

07-Nov-22 09:25

Thread Starter

Jahnavi Jaijapuram

Yes . But I have a doubt are current account's balance only used for repairs or expenses on fixed asset or any other expenses too .

For all expenses

CA Suraj Lakhotia

Admin

22-Nov-22 12:02

CA Suraj Lakhotia Admin

For all expenses

Thank you sir

Thread Starter

Jahnavi Jaijapuram

CA Foundation

★ 6K+

22-Nov-22 23:25

Your Reply

IndigoLearn

Helping students crack CA, CFA & ACCA since 2017. 14,000+ students have trusted us for the best CA,CFA, ACCA online classes. Learn from the best CA, CFA faculty, access top-quality content and clear your exams with confidence

IndigoLearn

NPO

Your Reply

Company

Information

Offerings