Cheque in hand
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 March 2012
AT 31st of March ' 2011 (FY 2010-2011) Sundry Debtors Outstanding is 11,00,000.00, out of those I have cheque in hand of Rs. 7,00,000.00 ( 200000/- of 3.04.2011, 200000/-, of 08/04/2011 & 300000/- or 12/04/2011 ).
My Question is do i have to create and Debit cheque in hand account under (C/Assets) and Credit he debtors account,
and show the balance as on 31st of Rs. 400000/- or i have to just show Debtors balance of Rs. 11,00,000/- on 31st and credit the in the next financial year( Date of Cheque)
Awaiting for your valuable reply..
My Question is do i have to create and Debit cheque in hand account under (C/Assets) and Credit he debtors account,
and show the balance as on 31st of Rs. 400000/- or i have to just show Debtors balance of Rs. 11,00,000/- on 31st and credit the in the next financial year( Date of Cheque)
Awaiting for your valuable reply..
22 March 2012
Dear
You will have to show debtors balance of Rs 11,00,000 as on 31st March, 2011.
Rs 7,00,000 lakhs will be credited in next FY.
You will have to show debtors balance of Rs 11,00,000 as on 31st March, 2011.
Rs 7,00,000 lakhs will be credited in next FY.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
22 March 2012
thnk u sir for your reply... if these were not post dated cheques then also whether treatment will be different or same
22 March 2012
No, obviously if these cheques bear the current period date then these will be adjusted in current year itself b'cos in Balance Sheet we have to show adjusted balance
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