Negative bank balance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2016
Hi,
One of are companies had Rs 2000000 in account on 29th March, however they issued cheque of Rs 2700000 on 31st March. Should i show Bank O/D and if yes where in the balance sheet as per schedule iii companies act 2013. Is there any other way to present if I dont want to show negative bank balance provided all the expense pertains to FY in question.
One of are companies had Rs 2000000 in account on 29th March, however they issued cheque of Rs 2700000 on 31st March. Should i show Bank O/D and if yes where in the balance sheet as per schedule iii companies act 2013. Is there any other way to present if I dont want to show negative bank balance provided all the expense pertains to FY in question.
05 August 2016
show the cheque amount not cleared till 31st march as due in reconcillation under other current liability and balance as per bank under current assests
05 August 2016
what is the problem in showing -ve balance?...show -ve balance in sch iii
my counter query is as follows:
if you have the guts to issue a cheque of 2.70 against a balance of 2.00..without paying much attention to sec 138.......violating negotiable instruments act.....why do you show such a concern for Companies Act? Can you please explain, if you dont mind)
my counter query is as follows:
if you have the guts to issue a cheque of 2.70 against a balance of 2.00..without paying much attention to sec 138.......violating negotiable instruments act.....why do you show such a concern for Companies Act? Can you please explain, if you dont mind)
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
