08 September 2012
Dear Expert, Suppose an assessee deposited with a company Rs. 4.30 lacs as security and company provided him goods of same price for trading and assessee is bound to maintain stock least equal to security money at his business place.
Now when finalising balance sheet, it is better to put security amount in current assets or to put closing stock in current assets. If I puts both head then it will increase the assets side upto 4.30 lac than liability side.