19 August 2009
What should be the accounting treatment in current year of difference in trial Balance in last year balance sheet. weather it should transfer to capital A/c or transfer to Profit & loss A/c or any other treatment
20 August 2009
if the dif. is imaterial/small amt charge to p l a/c,otherwise Carrry Forward as suspense in balance sheet to be find out the dif. in future.
20 August 2009
Every debit has its own equal and opposite credit. - Basic logic in Accountancy....
Suggestion - Try to find out the mistake if the diff is massive. If the diff is meager of neglible, just write off if there is a debit balance in the current year P&L or show it as income, if there is a credit balance.
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