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Current account

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(Querist)
27 September 2011 In balance sheet why current account should treated as liability?
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
28 September 2011 Well the negative balance of current account should be shown under Current Assets under Bank Account not on liabiklty side at all
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CA Amit Joshi

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CA Amit Joshi (Expert)
28 September 2011 Dear Amirtham your quary is not cleare. If there is OD on current account than it is shown in liability side, but if it has positive balance than it will be shown as current assest.
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