How are Advances are treated in Balance Sheet, for eg.: Advance Received from Debtors and Advances Paid to Creditors. What effect will be creatd in the balance sheet?. Please Explain with case study. Thanks.
1 Replies
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 03 April 2016
adv received from debtors is a liability and adv paid to creditors is an asset.
Recent Topics
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
- Need your valueble insight.
Related Threads
CAclubindia
