24 July 2013
see debit side represents- 1.opening balance of cash in had and bank 2.Capital and revenue receipts. Ex- sale of office furniture,equipments Credit side represents 1.Bank overdraft opening balance 2.capital and revenue payments-payment for building ,loans
Record items whether they belong to current period or not subject to some adustments like as it is done in subscriptions case
CAclubindia
