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Query in question

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

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Shivam Vij

Shivam Vij

CA Foundation

520

17-Jul-20 19:05

14

Answers (4)

What didnt you understand in it?


sudha reddy

sudha reddy

Moderator

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.


Shivam Vij

Shivam Vij

CA Foundation

520

18-Jul-20 09:08

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

sudha reddy

Moderator

18-Jul-20 10:34

Ok mam thanks for reply I will try it again


Shivam Vij

Shivam Vij

CA Foundation

520

18-Jul-20 10:42