Cash in hand in negative balance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 September 2011
In my friend company accounts cash in hand shown in negative balance i.e (175000) because mostly he made cash expense entry ... their auditor told cash in hand cant shown negative balance in balance sheet so u delete some cash payment expense and also told cant shown loan by cash in balance sheet ... my friend want suggestion about how do claim all cash expense .. pls give suggestion to him regarding this
27 September 2011
Better show some expenses as Credit expenses as it is a company, merchantile accounting is allowed.Better youu can also show cash realisation from any of your debtor, even though you have not realised it in cash. This will ends up debtors balance and when you recieve from debtor show it as a loan and also it has been received in cheque
27 September 2011
May be show as credit balance on excess amount paid and show them as creditor.
09 October 2011
This problem cannot be solved unless your friend introduces cash as loan to the company. After introduction of cash he can show the cash expenses otherwise negative cash balances are not accepted. Your friend must be having some source where from he is generating cash
10 October 2011
please remember loan can not be raised for not more than Rs 20,000 in cash from individual person
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