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Query in question

Accountancy

Sir I can't understand the Question regarding final accounts of non manufacturing firm Module practical question number 1.

Shivam Vij

CA Foundation

★ 520

17-Jul-20 19:05

362

Answers (4)

What didnt you understand in it?

Sudha Reddy

CA Final

★ 20K+

18-Jul-20 08:23

1.Intrest recived treatment 2. Intrest from sundry debtors is not treated in balance sheet, which is given in Adjustment 7.

Thread Starter

Shivam Vij

CA Foundation

★ 520

18-Jul-20 09:08

Thread Starter

Shivam Vij

1.Intrest recived treatment 2. Intrest from sundry debtors is not treated in balance sheet, which is given in Adjustment 7.

Interest accrued but not received is taken into B/S... and it is computed as Interest due for whole year -Interest received during the year. Interest received from investments = Total interest received (Rs.7250 wrongly given as 72500 in problem) - Interest received from debtors Interest receibed from debtors need not be reflected in balance sheet under debtors as it was due and received and accounted.

Sudha Reddy

CA Final

★ 20K+

18-Jul-20 10:34

Ok mam thanks for reply I will try it again

Thread Starter

Shivam Vij

CA Foundation

★ 520

18-Jul-20 10:42