Schedule III

Accountancy

Adjustment - How to treat bills receivables maturing on June of the current FY have been discounted. No entry in trial balance regarding bills receivables

HariPriya C

CA Final

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14-Feb-24 13:40

438

Answers (5)

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CA Suraj Lakhotia

Admin

14-Feb-24 13:43

Attached questions sir

Attachments

Thread Starter

HariPriya C

CA Final

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14-Feb-24 19:57

That is a contingent liability to be disclosed.

CA Suraj Lakhotia

Admin

17-Feb-24 15:24

What is the logic behind it sir?

Thread Starter

HariPriya C

CA Final

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17-Feb-24 22:38

Thread Starter

HariPriya C

What is the logic behind it sir?

If I discount a bill with bank and the acceptor does not pay, I have to pay to the bank

CA Suraj Lakhotia

Admin

22-Feb-24 20:31