A/cing cash shortage.
This query is : Resolved
02 July 2013
Hai all..
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.
I am currently finalizing A/cs of a public company for FY 2012-13. But I am facing a problem of cash shortage from the beginning of d year as most of cash payments are made out of chairman's personal fund,which can't be a/ced due to many reason.But sufficient cash balance is their by end of the year. How can I adjust cash balance in the beginning by way of loan or something. Thanks in advance.
03 July 2013
whatever amount is paid by chairman pass the following entry for that amount
cash a/c dr to chaiman(loan) a/c cr
cash a/c dr to chaiman(loan) a/c cr
Message likes :
1 times
04 July 2013
But madam I told u na that cant be A/ced in books..I will have to show some other source for same. Can I show some unsecured loan to maintain cash balance in beginning of period and pay off d same by end of d year...?? Kindly remember its a public company and its possible legal consequences..Thank You
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
