Treatment of trade payable
This query is : Resolved
20 October 2014
1) If a creditor has credit balance as well as short term loans and advances are appearing in its name, can they be adjusted and a net position for the creditor be shown?
2) A debit balance for a creditor will be classified as short term loans and advances or other current liabilities?
Thankyou.
2) A debit balance for a creditor will be classified as short term loans and advances or other current liabilities?
Thankyou.
Vishnu Saboo
(Expert)
21 October 2014
if it can be segregate in both items with proper logic, you can show it in two items, else you can adjust.
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