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treatment of negative bal in od a/c

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(Querist)
01 February 2011 i have negative balance of rs -143000 which side to be shown in balance sheet urgent
thanks in adv
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
01 February 2011 If negative balance is due to overissue of cheques, it should be shown under the heead Current Liabilities.

If negative balance is due to overdraft facility taken from bank against some security, it should be shown under the head Secured Loan
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Nirpendra Singh

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Nirpendra Singh (Expert)
01 February 2011 yes follow the treatment suggested by Mr sunil
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