30 March 2013
a company whose accounting year ends on 31 march 2001 has placed order with X ltd for a machine costing 20 lacs against cash payment during june 2001.the company has added a foot note to the balance sheet as at 31 march 2001 showing separetely that a capital contract has been entered into which requires requires the payment of rs. 20 lacs in cash
CAclubindia
