09 August 2016
one person trasfers rs.50000in my account on 28.3.16to utilise that amount to pay his insurance premium .and i hav withdrawn that amount to pay his premium on 1.4.16.Because of that transfer my account shows balance as on 31.3 is 80000.so how i will show this amount in balance sheet
09 August 2016
Dear Chinmayee,
your bank balance will be shown at actual figure of 80k. however, Rs. 50k will be shown in your current liabilities as client money account.
CAclubindia
