Final a/c

This query is : Resolved

qashif (Querist)
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22 October 2013 what is the entry of accrued interest in final a/cs...?? is it appear in Balance sheet under assets side?

CA Pallav Singhania

CA Pallav Singhania (Expert)
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22 October 2013 Accrued Interest on Investment A/c.
To Interest on Investment A/c.
{Being interest Accrued transferred to Interest A/c.}

At the time of Maturity

Bank A/c. Dr.
TDS U/S 194A... Dr.
To Accrued Interest on Investment A/c.
To Interest on Investment A/c.
To Investment A/c.
{Being the Investment matured}

Ganeshbabu K

Ganeshbabu K (Expert)
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22 October 2013 Yes, can show in "Other current Assets"
.
.
Entry as below,

Dr.Accrued interest [Other current asset]
Cr.Interest income [indirect income]
.
.
at the time of maturity
.
Dr.BankA/c
Dr.TDS receivable
Cr.Accred interest
Cr.INVESTMENT(in case of interest re-invested)

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