Easy Office
LCI Learning

Opening balance

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 May 2020 Sir,
Assess small businesses person.
Sales turnover finicial year : 2018-2019 rs.69 lacs
Sales turnover finicial year:2019-2020.
Assess I.t. returns filed two years for the purposes of bank loan.
Question:
Assess How much amount capital account and cash on hand opening balance introduced as on 01.04.2018
Shown in balance sheet under I.t.act
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
19 May 2020 1 2 to 3 lacs capital and 18,000 cash may be shown.
Profile Image

Asha Kanta Sharmapro badge online

Profile Image

Asha Kanta Sharmapro badge online (Expert)
23 May 2020 It has to be on actual basis and based on books of accounts maintained for previous year. 
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links