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how to deal with 1. Cheque unrepresented being payment for repairs. How is honorarium 600 we get balancesheet How is bank overdraft coming How is honourarium comes in the opening balancesheet Pls clarify this
Answers (4)
Balance given in the question is a per pass book and not as per books. Therefore in order to arrive at cash balance as per books ,the cheque unpresented has to be adjusted. About the honorarium, the amount in reciept and payment alc of FY 2019-20 pertains to honorarium of FY 2018-19 ,therefore it is shown in opening balance sheet as liability which got settled in in FY2019-20